arab fund for economic & social development annual report 2014 · 2015-04-16 · annual report...

Annual Report 2014 1

Arab Fund for Economic & Social Development

Annual Report 2014

Arab Fund for Economic & Social DevelopmentP.O. Box: 21923 - Safat 13080, Kuwait

Telephone: +965 24 95 90 00Facsimile: +965 24 95 93 90 / 91 / 92

Electronic Mail: [email protected] Web Site: www.arabfund.org

Address: Arab Organizations Headquarters BuildingAirport Road, Shuwaikh

State of Kuwait

2 Annual Report 2014


Arab Fund For Economic & Social Development

Member States, Governors and Alternate Governors

(1) States are listed in the order in which their names appear in the list of signatories to the Agreement Establishing the Fund, and according to the date of adhesion to the Agreement.

(2) Names of Governors and Alternate Governors are given as at 31/12/2014.

* Membership suspended pursuant to the Board of Governors’ Resolution No. 3 of 1993, which has been extended annually by subsequent resolutions of the Board of Governors until 2014.

Member States(1) Governors(2) Alternate Governors(2)

The Hashemite Kingdom of Jordan H.E. Dr. Ibrahim Saif H.E. Dr. Saleh A. Al-Kharabsheh

The Republic of Tunisia H.E. Mr. Hakim Ben Hammouda -

The Algerian Democratic and People’s Republic H.E. Mr. Mohamed Djellab -

The Republic of Sudan H.E. Mr. Bader El-Din Mahmoud Abbas -

The Republic of Iraq - -

The Kingdom of Saudi Arabia H.E. Dr. Ibrahim Bin Abd-El-Aziz Al- Assaf -

The Syrian Arab Republic - -

State of Libya H.E. Dr. Al-Kilani Abdul Karim Al-Kilani -

The Arab Republic of Egypt H.E. Dr. Naglaa Anwar El Ehwany H.E. Dr. Ashraf El-Araby

The Republic of Yemen H.E. Dr. Mohamed Al-Maitami H.E. Dr. Mohamed Ahmed Ali Al-Hawri

The State of Kuwait H.E. Mr. Anas Khalid Al Saleh H.E. Mr. Abdulwahab Al-Bader

The Republic of Lebanon H.E. Mr. Nabil Adnan Al-Jisr H.E. Mr. Alain Bifani

The Kingdom of Morocco H.E. Mr. Mohamed Boussaid H.E. Mr. Khalid Safir

United Arab Emirates H.E. Mr. Obaid Humaid Al-Tayer -

The Kingdom of Bahrain H.E. Sheikh Ahmed Bin Mohammed Al-Khalifa H.E. Mr. Yousif Abdulla Humood

The State of Qatar H.E. Mr. Ali Shareef Al Emadi -

The Somali Democratic Republic* - -

The Islamic Republic of Mauritania H.E. Dr. Sidi Ould Bebbaha Ould Tah H.E. Mr. Ahmedo Ould Ely

Sultanate of Oman H.E. Mr. Darwish Bin IsmaeelBin Ali Al-Bulushi -

Palestine H.E. Dr. Nabil Hani Al-Qaddumi H.E. Dr. Ismail El-Zabri

The Republic of Djibouti H.E. Mr. Ilyas Moussa Dawaleh -

The Union of the Comoros H.E. Mr. Mohamed Ali Soilihi -


Director General / Chairman of the Board of Directors

Mr. Abdlatif Y. Al-Hamad

Members of the Board

Mr. Abdulwahab Al-Bader

Mr. Ibrahim Bin Mohamed Al Mofleh

Mr. Benaouda Merad

Mr. Taher Sarkez

Dr. Samir El Sayiad

Mr. Mohamed Abdulbaki

Mr. Ali Bin Mohammad Bin Jaffar

Mr. Fouzi Lekjaa

Board of Directors


(KD Million)

Capital* 2554.9

Total Resources 3051.8

Loans

Number of Loan Agreements Signed During the Year 15

Total Amount of Loan Agreements Signed During the Year 412.5

Total Number of Loans 626

Cumulative Amount of Loan Agreements Signed 8398.7

Cumulative Disbursements on Effective Loans 5614.4

Cumulative Loan Repayments 2857.4

Outstanding Debt Owed to the Arab Fund 2757.0

Grants

Total Number of Grants 1062

Cumulative Grant Commitments 203.9

Cumulative Grant Disbursements 155.0

* During its Annual Meeting held on April 2, 2013, the Board of Governors resolved to increase the authorized capital of the Arab Fund to KD 4 billion and to raise the subscribed capital to KD 3 billion. This capital increase is to be effected through the capitalization of part of the additional reserve in the amount of KD 500 million, and by means of additional subscriptions by member states in the aggregate amount of KD 500 million, to be paid in installments over 5 years. The amount mentioned above represents the paid-in capital.

Basic Financial Data on the Arab Fund

as at 31/12/2014


Overview of Arab Fund Activities

Introduction

During 2014, the Arab Fund’s lending program focused on continued support to Arab countries’ efforts in implementing high-priority economic and social projects. Priority was given to infrastructure projects aimed at providing basic services, increasing production capacity, and improving the investment environment. The Arab Fund also continued to allocate national and inter-Arab grants to member countries, aimed at providing institutional support and training, implementing emergency programs, organizing seminars and conferences, conducting general studies and research, as well as feasibility studies and project preparation.

Loans

During the year, the Arab Fund extended 15 loans, in 8 Arab countries, for a total amount of KD 412.5 million. These loans contributed to the implementation of 13 public sector projects, including 12 new and 1 previously financed project, as well as 2 private sector projects. The total cost of these projects was estimated at about KD 1.2 billion, with the loans provided by the Arab Fund covering about 34.2% of that amount. The share of loans provided to the energy and electricity sector represented about 31.5% of the total loan commitments during the year, and that of the social services sectors about 19.6%. The agriculture and rural development sector accounted for about 19.4%, the transport sector for about 9.7%, the water and sewerage sector for about 7.3%, the industry and mining sector for about 1.8%, and the other sectors for about 10.7%, of the total amount of loans.

Cumulative Loans

Since the commencement of its activities in 1974 and until the end of 2014, the cumulative number of loans provided by the Arab Fund to the public and private sectors has reached 626 for a total amount of about KD 8.4 billion. These loans contributed to the financing of 530 projects in 17 Arab countries, and covered about 25.3% of the total cost of these projects. The infrastructure sectors received the majority of loans extended during that period, with a share of about 69.0% of the total amount of loans, followed by the productive sectors with about 20.3%, then the social services sectors with about 7.7%, and the other sectors with about 3.0%. The cumulative number of loans extended to the private sector over that period has reached 14, for a total amount of about KD 56.0 million. Cumulative disbursements of loans extended to both the public and private sectors over the period 1974 - 2014 amounted to about KD 5.6 billion, representing about 77.0% of the net amount of effective loans. The Arab Fund also contributed to the capital of 7 private companies, for a total amount of about KD 31.7 million, in addition to its contribution to the capital of the fund established by the International Finance Corporation (IFC).


Grants

The total amount of grants provided by the Arab Fund during 2014 reached about KD 13.1 million, and was used to execute 20 national grants and 11 inter-Arab grants, and to increase 2 national grants provided in 2013. The total amount of the national grants was about KD 10.8 million, of which about 66.0% was allocated for institutional support and training, and about 29.3% for the implementation of emergency programs. The total amount of the inter-Arab grants was about KD 2.3 million, of which about 84.8% was allocated for institutional support and training, and about 15.2% for seminars and conferences.

Cumulative Grants

The cumulative number of grants extended by the Arab Fund, since the commencement of its operations and until the end of 2014, has reached 1062, for a total amount of about KD 203.9 million. They included 560 national grants amounting to about KD 143.1 million and 502 inter-Arab grants amounting to about KD 60.8 million. About 81.9% of the net amount of these grants was disbursed.

Support to Palestine

The Arab Fund continued its annual contribution to the Urgent Program in Support of the Palestinian People, in compliance with the decisions of the Arab Fund’s Board of Governors since 2001. During 2014, the Arab Fund allocated about KD 3.4 million to the twelfth phase of the program. Thus, the total contribution of the Arab Fund to this program over the period 2001 - 2014 reached about KD 127.3 million.

Other Activities

The Arab Fund continued to act as the Coordination Secretariat of the Coordination Group, which includes the Arab national and regional development institutions, and prepare their periodic meetings. The thirteenth meeting of the Heads of these institutions took place during the year at the Arab Fund headquarters. The seventy third and seventy fourth Coordination Group meetings also took place during the year, with the participation of several international institutions.

By the end of the year, a total of 18 Arab countries had contributed to the Special Account established to finance small and medium private sector projects, in addition to the Arab Fund. Seven loans were approved during the year by the Special Account’s management committee, for a total amount of US Dollars 260.0 million. These loans were provided to governments and intermediary financial institutions in six Arab countries.


The Arab Fund allocated a grant to conduct a study aimed at achieving food security for Arab countries through the Sudan project. The study comprises four tasks, two of them were completed in 2014, and it is expected that the remaining two will be completed in the first quarter of 2015.

The Arab Fund organized in cooperation with the World Bank, the Third Arab Development Symposium on “Reforming the Education System in the Arab World with the View of Enhancing Employability of Outcomes”. The Symposium aimed at providing an overview of the status of the employability of the educational sector graduates in the Arab countries.

Financial Statements

According to the Arab Fund’s financial statements for the year ending 31/12/2014, total income was about KD 92.75 million compared to about KD 87.15 million in 2013, while total administrative expenses were about KD 8.33 million compared to about KD 8.06 million in 2013. The Arab Fund’s net profit for the year 2014 was about KD 84.43 million, compared to about KD 33.51 million for the year 2013. The statements also show that total member countries’ equity was about KD 3051.76 million as at 31/12/2014, compared to about KD 2824.79 million at the end of 2013.


First: The Lending Program

Preamble

During 2014, the Arab Fund continued to support projects that have high priority in the development plans of Arab countries and strengthen their economic and social development efforts. The lending program for the year focused mainly on projects in the energy and electric power sector, the social services sectors, and the agriculture and rural development sector. The program also included projects in the sectors of transport, water and sewerage, and industry, in addition to projects in other sectors.

Appraisal of Projects and Loan Agreements Signed

During the year, the Arab Fund studied several requests it received from member countries for financing projects. These projects were appraised by the Arab Fund’s technical staff through office work and field trips to ensure their technical and economic feasibility, and their conformity with development program priorities in member countries.

A total of 15 loan agreements were signed during the year, for a total amount of about KD 412.5 million. These loans contributed to the financing of 13 public sector projects and 2 private sector projects, in 8 Arab countries. The total cost of these projects was estimated at about KD 1.2 billion, with the loans provided by the Arab Fund covering about 34.2% of that amount.

Effective Loan Agreements

A total of 17 loan agreements with 8 Arab countries, amounting to about KD 561.0 million, became effective in 2014. These loans were provided for the implementation of strategic projects in areas that included energy, transport, agriculture, social services, water and sewerage, industrial projects, and other sectors.

Public Sector Projects

The Arab Fund extended 13 public sector loans during the year, amounting to KD 405.0 million, for the implementation of 12 new projects and 1 previously financed project. Table 1 shows the loan commitments by the Arab Fund during 2014, and Annex 1 provides the project sheets for these loans.

Infrastructure sectors accounted for about 48.5% of the total amount of loans provided during 2014, in light of priorities of member countries’ plans and programs that focused on improving these sectors, and providing an environment conducive to investment and employment opportunities. Three loans were extended to finance energy and electricity projects, and amounted to KD 130.0 million or about 31.5% of the total. These projects aim at meeting the increasing demand for electricity in both Egypt and Mauritania, through the electrical interconnection between Egypt and Saudi Arabia, the construction of a


power generating station in Assiut, Egypt, and the construction of a solar power station in Nouakchott and the modernization of the electric system, in Mauritania. A loan was extended to the transport sector, for an amount of KD 40.0 million, or about 9.7% of the total, for the improvement of land transport in a number of Tunisian Governorates. A loan for an amount of KD 30.0 million was also extended for the completion of wastewater facilities in Lebanon.

The Arab Fund’s loans included four loans extended to the social services sectors, for a total amount of KD 81.0 million, to finance housing projects in Oman, Lebanon and Djibouti, and a hospital in Yemen. Two loans were also allocated for agriculture and rural development projects, for a total amount of KD 80.0 million, to meet the increasing demand for irrigation through the desalination of sea water in Morocco and the construction of a dam in Tunisia. The Arab Fund also provided two loans, for a total amount of KD 44.0 million, to contribute to the financing of infrastructure development projects in Sana’a, Yemen, and in an industrial area in Oman.


Table 1Loan Commitments During 2014

No. Country ProjectAmount of Loan

(KD Million)

Date of Signature of Loan

Agreement

A: Public Sector Projects

1 Republic of Djibouti Social Housing - Phase II (Supplementary Loan) 1.0 09/03/2014

2 Arab Republic of EgyptElectrical Interconnection Between the Arab Republic of Egypt and the Kingdom of Saudi Arabia

45.0 24/03/2014

3 Arab Republic of Egypt Assiut Power Generating Station (El-Walidia) 650 MW 55.0 24/03/2014

4 Sultanate of Oman Infrastructure Facilities for Sumail Industrial Estate 14.0 08/04/2014

5 Sultanate of Oman Housing Program 40.0 08/04/2014

6 Republic of Yemen Infrastructure Development in Sana’a City 30.0 08/04/2014

7 Republic of Tunisia Regional and Rural Roads Network (Phase III) 40.0 08/04/2014

8 Republic of Lebanon Housing Project 34.0 11/05/2014

9 Republic of Lebanon Completion of Wastewater Facilities in Lebanon 30.0 11/05/2014

10 Republic of Tunisia Upper Mellegue Dam 30.0 24/06/2014

11 Islamic Republic of Mauritania

Construction of a Solar Power Station in Nouakchott and the Modernization of the Electric System

30.0 24/06/2014

12 Kingdom of Morocco Irrigation of the Chtouka Aït Baha Region with Desalinated Water 50.0 24/06/2014

13 Republic of Yemen Al Ghaydah Central Hospital 6.0 24/06/2014

Subtotal 405.0

B: Private Sector Projects

14 Arab Republic of Egypt Al Nouran Sugar 3.5 27/04/2014

15 Republic of Yemen Expansion of Flour Mills at Saleef Port 4.0 25/05/2014

Subtotal 7.5

Total 412.5


Private Sector Projects

The Arab Fund continued to support and promote the role of the private sector in the economic and social development of Arab countries. During the year, two loans, amounting to about KD 7.5 million, were extended to contribute to the financing of two private sector projects. The first loan, for an amount of KD 4.0 million, was extended to contribute to the financing of the expansion of a flour mill factory in Yemen, which has an estimated total cost of about KD 7.6 million. The second loan, for an amount of about KD 3.5 million, was extended to contribute to the financing of a sugar production project in Egypt, which has an estimated total cost of about KD 102.2 million; the Arab Fund had previously subscribed to the capital of the project company in an amount equivalent to KD 6.5 million (Table 1). During the year, the Arab Fund studied 14 requests to participate in the financing of private sector projects in 8 Arab countries; they included 3 in the energy sector, 2 in each of the tourism, housing, health, industry, and fishing sectors, in addition to 1 project in the transport sector.

Monitoring of Projects

The Arab Fund continued to monitor the progress of ongoing projects, follow up the fulfillment of the covenants set forth in their loan agreements, and take the necessary steps to ensure their proper implementation. During 2014, 5 projects were completed; their total cost amounted to about KD 103.0 million, with the Arab Fund covering about 60.7% of that cost.

Cumulative Lending Activities

Since the commencement of its operations in 1974 and until the end of 2014, the Arab Fund extended 626 loans, for a total amount of about KD 8.4 billion. These loans contributed to the financing of 530 projects in 17 Arab countries, and covered about 25.3% of the total cost of these projects. Annex 3 presents a summary of the loans extended to member countries over the period 1974 – 2014, and Annex 5 provides details on these loans.

The cumulative amount of loans extended by the Arab Fund for infrastructure projects has reached about KD 5.8 billion, or about 69.0% of the total amount of loans, of which about KD 2.7 billion was allocated for energy and electricity projects, about KD 2.2 billion for transport and telecommunications projects, and about KD 0.9 billion for water and sewerage projects.

Loans for the productive sector projects amounted to about KD 1.7 billion, or about 20.3% of the total amount of loans, of which about KD 1.2 billion was allocated for projects in agriculture and rural development, and about KD 0.5 billion for projects in industry and mining. Loans for projects in the social services sectors amounted to about KD 0.6 billion, accounting for about 7.7% of the total, and were allocated to projects in education, health, housing and social development. The remaining 3.0% of the total amount of loans, about KD 0.3 billion, was provided to finance projects in other sectors.

In addition to financing the main components of projects, the Arab Fund’s loans also contributed to institutional support of the entities involved and training of their employees in order to enhance their efficiency. Table 2 shows the sectoral distribution of the loans extended by the Arab Fund during 2014 and over the period 1974 – 2014, while Annex


4 provides a summary of that distribution among beneficiary member countries over the same period.

The cumulative lending activities of the Arab Fund also included 14 loans for private sector projects, for a total amount of KD 56.0 million, which contributed to 12 projects in Bahrain, Yemen, Mauritania, Sudan, Jordan and Egypt. These projects covered various areas, as they included the development of the productive sectors, especially iron and steel, sugar, grain silos and flour mills, glass and cement, as well as the tourism, health and financial sectors. In addition to the loans extended to the private sector, the Arab Fund also contributed to the equity capital of 7 private companies in 4 Arab countries, namely Saudi Arabia, Egypt, Yemen and Sudan, in the areas of glass container manufacturing, iron and steel production, cement production, sugar production, power generation, healthcare services and storage facilities. By the end of 2014, the Arab Fund’s total contributions to these companies had reached about KD 31.7 million, in addition to its contribution to the capital of the fund established by the International Finance Corporation (IFC) in an amount of KD 10 million.

Inter-Arab Projects

The Arab Fund maintained its support to joint Arab efforts to build a basic framework and to strengthen means of communication and interconnections between member countries. Since the start of its operations in 1974 and until the end of 2014, the Arab Fund extended 68 loans for a total amount of about KD 394.1 million. These loans contributed to the implementation of 32 inter-Arab projects in the areas of telecommunications, electric power, natural gas and international roads. Total disbursements of these loans have reached about KD 291.7 million at the end of 2014, or about 82.7% of their net amount. Annex 6 provides details on the loans extended by the Arab Fund to finance inter-Arab projects over the period 1974 – 2014.

Co-Financing Activities

The Arab Fund also continued its co-financing of projects in Arab countries with Arab national, regional and international development institutions. During 2014, two projects were co-financed with other institutions. These projects included the electrical interconnection between Egypt and Saudi Arabia, and a hospital in Yemen. During the period 1974 – 2014, the total contribution of the Arab Fund to projects co-financed with Arab national, regional and international development institutions has reached about KD 3.7 billion, representing about 31.2% of the total amount of co-financing of about KD 12.0 billion. Annex 8 provides details on co-financing activities over that period.

Disbursements and Repayments

Total disbursements during 2014 amounted to about KD 257.8 million, of which about KD 0.2 million were disbursed to finance private sector projects. Cumulative disbursements of all loans over the period 1974 – 2014 have amounted to about KD 5614.4 million, including KD 39.6 million for private sector projects. Repayments of loans in 2014 amounted to about KD 159.1 million, of which about KD 1.4 million were from the private sector. Cumulative repayments over the period 1974 – 2014 have amounted to about KD 2857.4 million, which represented about 50.9% of cumulative disbursements.


Sectoral Distribution of Loan Commitments (Percentage)

Sector2014 1974 - 2014

Amount % Amount %

1. Infrastructure Sectors

Transport and Telecommunications 40.00 9.7 2177.90 25.9

Energy and Electricity 130.00 31.5 2750.75 32.8

Water and Sewerage 30.00 7.3 867.25 10.3

Subtotal 200.00 48.5 5795.90 69.0

2. Productive Sectors

Industry and Mining 7.50 1.8 479.70 5.7

Agriculture and Rural Development 80.00 19.4 1226.80 14.6

Subtotal 87.50 21.2 1706.50 20.3

3. Social Services Sectors* 81.00 19.6 645.50 7.7

4. Other Sectors** 44.00 10.7 250.83 3.0

Grand Total 412.50 100.0 8398.73 100.0

* Include Education, Health, Housing and Social Development.** Include Loan Commitments for Emergency Projects.

Table 2 Loan Commitments by Sector

(KD Million)

During the Period 1974 - 2014

Water &Sewerage

10.3%

Industry & Mining

5.7%

Energy &Electricity

32.8%

Transport & Telecom.

25.9%

OtherSectors3.0%

Agriculture & Rural Dev.

14.6%

Social Services

7.7%

During 2014

Water &Sewerage

7.3% Industry &

Mining1.8%

Energy &Electricity

31.5%

Transport & Telecom.

9.7%

OtherSectors10.7%

Agriculture & Rural Dev.

19.4%

Social Services19.6%


Second: Grants

Grants During 2014

The total amount of grants provided by the Arab Fund during 2014 reached about KD 13.1 million, and was used to execute 20 national grants and 11 inter-Arab grants, and to increase 2 national grants provided in 2013. The total amount of the national grants was about KD 10.8 million, and was provided to 12 Arab countries. The total amount of the inter-Arab grants was about KD 2.3 million, and was allocated to support activities of common interest to most Arab countries. Table 3 presents the national and inter-Arab grants approved during 2014. The Arab Fund continued to give priority to activities that reinforce institutional support and training, with 22 grants allocated to these activities for a total amount of about KD 9.1 million, representing about 69.4% of total grants provided during the year. These grants included 18 national grants for a total amount of about KD 7.1 million, and 4 inter-Arab grants for a total amount of about KD 2.0 million. These grants aimed at enhancing the performance of specialized institutions, supporting the activities of research and education centers, as well as the activities of economic and social institutions. The grants also aimed at providing advanced medical equipment and supplies to support health services, preserving heritage, and improving food security in Arab countries.

The grants included strengthening the implementation of emergency programs, by increasing the amounts allocated to 2 grants provided in 2013 by about KD 3.2 million, or about 29.3% of the total amount of grants for 2014. These 2 grants contributed to the projects and programs for the urgent relief of Syrian refugees in Lebanon and Jordan. The grants provided during the year also contributed to the organization of a number of seminars and conferences on topics of common interest to most Arab countries, as well as the preparation of studies in some of those countries. Table 4 shows the grant commitments by activity.

Cumulative Grants

Since the beginning of its operations and until the end of 2014, the Arab Fund provided 1062 grants for a total amount of about KD 203.9 million. They included 560 national grants, amounting to about KD 143.1 million, which were allocated as follows: about KD 71.2 million for institutional support and training, about KD 16.8 million for feasibility studies and project preparation, about KD 5.6 million for general studies and research, and about KD 164 thousand for seminars and conferences. These grants aimed at improving the performance of specialized institutions, enhancing the quality of services they provide, training their employees and managers, developing their information systems and statistics, undertaking population censuses, supporting the activities of several research centers, and preserving national heritage. Furthermore, national grants included grants


for a total amount of about KD 49.3 million, which were allocated to support emergency programs to alleviate the effects of natural disasters, local disturbances, or damage caused by external aggression in some Arab countries.

The grants provided over the same period also included 502 inter-Arab grants, amounting to about KD 60.8 million, which were allocated as follows: about KD 34.6 million to provide institutional support and training programs in several specialized scientific and research centers, about KD 13.1 million to undertake general studies and research in various economic and social development areas, about KD 6.4 million to conduct feasibility studies for specific projects, about KD 4.7 million to organize seminars and conferences to discuss priority development issues for Arab countries, in addition to about KD 2.0 million to implement emergency programs.

Grant Disbursements Cumulative disbursements of grants approved over the period 1974 – 2014 amounted to about KD 155.0 million, which constitutes approximately 81.9% of the net amount of grants. Annex 7 provides a summary of the grants committed and disbursed over that period. During 2014, a total of 17 grants, amounting to about KD 6.5 million, were completed. This brought the total number of grants completed during the period 1974 – 2014 to 882, with a cumulative amount of about KD 135.8 million, while a total of 138 grants, amounting to about KD 59.8 million, remained under execution.

Support to the Palestinian People

The total amount of contributions made by the Arab Fund to Palestine, since the beginning of its operations and until the end of 2014, reached about KD 172.8 million, including about KD 155.8 million in the form of grants, and the remaining in the form of loans provided to the Palestinian National Authority.

The Urgent Program: The Arab Fund continued its efforts to support the Palestinian people and limit the deterioration of the economic and social conditions in the occupied territories. During 2014, the Arab Fund allocated an amount of about KD 3.4 million, or about 10.0% of the Arab Fund’s net income for 2013, to contribute to the twelfth phase of the Urgent Program to Support the Palestinian People, initially started in 2001. Thus, the total contribution of the Arab Fund to this program over the period 2001 – 2014 reached about KD 127.3 million. This program provided support to educational institutions, enabled thousands of students to attend university by covering tuition fees for many of them, allowed for training and qualification of graduates, and contributed to the rehabilitation of school buildings to meet educational needs. The program also provided support to social institutions and civil society entities to enable them to provide the best services in areas of social welfare, maternal care and child care, handicapped and those with special needs, and orphanages. Areas of the program’s intervention also included support to small and medium enterprises, housing for marginalized groups, rural development, reconstruction


of historical buildings in old cities in Jerusalem, Nablus, and Hebron, and support to small farmers and craftsmen. The support also included provision of medical devices and equipment to hospitals and medical centers, contributions to the construction of health centers specializing in cardiology, ophthalmology, maternity and primary health care, in addition to the development of infrastructure such as water and electricity facilities, and delivery of potable water to deprived areas.

The Arab Fund provided support to Palestine through cooperation and coordination with civil society entities and some governmental institutions. This support contributed to the preservation of the various institutions and civil society entities, and enabled them to provide the best services to the Palestinian community. This program also reinforced the perseverance of the Palestinian residents and their presence in Palestine, and the preservation of their right to reside and live in the Holy City in the face of the expulsion campaigns, and contributed to the improvement of their living and environmental conditions by providing them with suitable housing, health, educational, cultural and social services.

Cooperation with International and National Financial Institutions: The Arab Fund continued its administration and follow up of grants provided by the OPEC Fund for International Development to Palestine. The total number of grants reached 356, amounting to about US Dollars 65.8 million. Disbursements of these grants amounted to about US Dollars 59.3 million, or about 90.1% of the total. The Arab Fund also maintained its cooperation with the Islamic Development Bank, which monitors the implementation of projects financed through Al-Aqsa Fund. This cooperation included support to rural development projects, economic empowerment, urgent reconstruction of historic buildings, construction of roads and schools, rehabilitation of water wells, reclamation of agricultural land, coverage of tuition and fees of university students, and support to non-governmental organizations that provide health, social and educational services. The total committed amount is estimated at about KD 29.3 million, including support to Jerusalem, and the disbursed amount reached about KD 22.0 million, or about 75.1%. Coordination between the Arab Fund and the Islamic Development Bank also included the selection of projects to be financed under the twelfth phase of the urgent program.

22Annual Report 2014

Grants Approved During 2014Table 3

No. Beneficiary/Grant Amount Allocated(KD 000) No. of Grant Date of Board Approval

A: National Grants1 Mauritania/ Contribution to the Update of the Sewerage Studies for Nouakchott (1) 200 1/2014 05/03/20142 Egypt/ Contribution to Support the Activities of the “Friends of Ahmed Bahaa El Din” Society (2) 50 2/2014 05/03/20143 Palestine/ Support to the Information Center of the Institute for Palestinian Studies (2) 30 4/2014 05/03/20144 Lebanon/ Support to the Children’s Cancer Center of Lebanon to Cover the Cost of Surgery for Children 2014 - 2016 (2) 300 5/2014 05/03/2014

5 Lebanon/ Completion of the Construction and Furnishing of a Rehabilitation Institute for Orphans and Disabled Children in Rahma Medical Center in Tripoli (2) 100 6-1/2014 05/03/2014

6 Lebanon/ Completion of the Construction and Furnishing of a Rehabilitation Institute for Orphans and Disabled Children in Rahma Medical Center in Tripoli (2) 100 6-2/2014 05/03/2014

7 Comoros/ Institutional Support to the Main Public Services and Institutions (2) 100 9-12/2014 31/03/2014

8 Egypt/ Contribution to the Financing of the Second Phase of the Project for the Development and Enhancement of Cairo’s Fatamid Neighborhoods (2) 300 10/2014 07/04/2014

9 Yemen/ Contribution to the Financing of the Fourth Phase of the Program to Restore and Rehabilitate the Grand Mosque in Old Sana’a (2) 500 11/2014 07/04/201410 Sudan/ Contribution to the Financing of the “Saving Sight in North Kordofan Governorate” Program (2) 250 14/2014 07/04/2014* Lebanon/ Contribution to the Projects and Programs for the Urgent Relief of Syrian Refugees in Lebanon (5) 1579 17/2013 09/04/2014

* * Jordan/ Contribution to the Projects and Programs for the Urgent Relief of Syrian Refugees in Jordan (5) 1579 18/2013 09/04/201411 Tunisia/ Contribution to the Financing of a Study on the Restructuring of the Public Banking Sector (3) 300 16/2014 08/06/201412 Lebanon/ Contribution to the Project on the “Design and Development of the Electronic Content in Science and Mathematics” (2) 300 17/2014 08/06/201413 Lebanon/ Contribution to the Financing of a Water Treatment Project at Dar Al-Ajaza Al Islamia Hospital in Beirut (2) 100 20/2014 08/06/201414 Yemen/ Contribution to the Financing of the Establishment of a Training Center for Alrahma Foundation for Human Development (2) 400 22/2014 08/06/2014

15 Lebanon/ Support to the Activities of the Friends Committee of the Social Welfare Institution – Dar Al Aytam Al Islamiya – “Ashghalouna” (2) 50 24/2014 24/07/2014

16 Comoros/ Hydroelectric Generating Units (2) 3000 26/2014 22/12/2014

17 Algeria/ Contribution to the Financing of the Project to Support the Capabilities of Management of Public Banks and Banking Supervision(2) 130 27/2014 22/12/2014

18 Bahrain/ Contribution to the Financing of the Project on the Development of Neighborhoods in Muharraq (2) 250 28/2014 22/12/201419 Lebanon/ Completion of the Construction of a Second Building for the Al Islah Islamic High School in Lebanon (2) 250 29/2014 22/12/201420 Somalia/ Contribution to the Somalia Trust Fund for Capacity Development in Macroeconomic Policies and Statistics (2) 900 30/2014 22/12/2014

Subtotal 10768

(1) Feasibility Studies and Project Preparation (2) Institutional Support and Training(3) General Studies and Research (4) Seminars and Conferences(5) Emergency Programs

* The amount of grant no. 17/2013 was increased by KD 1579 thousand, to become KD 3 million.** The amount of grant no. 18/2013 was increased by KD 1579 thousand, to become KD 3 million.


Gra

nts

App

rove

d D

urin

g 20

14Ta

ble

3

No.

Ben

efic

iary

/Gra

ntA

mou

nt A

lloca

ted

(KD

000

)N

o. o

f G

rant

Dat

e of

Boa

rd A

ppro

val

A: N

atio

nal G

rant

s1

Mau

ritan

ia/ C

ontri

butio

n to

the

Upd

ate

of th

e Se

wer

age

Stud

ies f

or N

ouak

chot

t (1)

200

1/20

1405

/03/

2014

2Eg

ypt/

Con

tribu

tion

to S

uppo

rt th

e Act

iviti

es o

f the

“Fr

iend

s of A

hmed

Bah

aa E

l Din

” So

ciet

y (2

)50

2/20

1405

/03/

2014

3Pa

lest

ine/

Sup

port

to th

e In

form

atio

n C

ente

r of t

he In

stitu

te fo

r Pal

estin

ian

Stud

ies (2

)30

4/20

1405

/03/

2014

4Le

bano

n/ S

uppo

rt to

the C

hild

ren’

s Can

cer C

ente

r of L

eban

on to

Cov

er th

e Cos

t of S

urge

ry fo

r Chi

ldre

n 20

14 -

2016

(2)

300

5/20

1405

/03/

2014

5Le

bano

n/ C

ompl

etio

n of

the

Con

stru

ctio

n an

d Fu

rnis

hing

of a

Reh

abili

tatio

n In

stitu

te fo

r Orp

hans

and

Dis

able

d C

hild

ren

in R

ahm

a M

edic

al C

ente

r in

Trip

oli (2

)10

06-

1/20

1405

/03/

2014

6Le

bano

n/ C

ompl

etio

n of

the

Con

stru

ctio

n an

d Fu

rnis

hing

of a

Reh

abili

tatio

n In

stitu

te fo

r Orp

hans

and

Dis

able

d C

hild

ren

in R

ahm

a M

edic

al C

ente

r in

Trip

oli (2

)10

06-

2/20

1405

/03/

2014

7C

omor

os/ I

nstit

utio

nal S

uppo

rt to

the

Mai

n Pu

blic

Ser

vice

s and

Inst

itutio

ns (2

)10

09-

12/2

014

31/0

3/20

14

8Eg

ypt/

Con

tribu

tion

to th

e Fi

nanc

ing

of th

e Se

cond

Pha

se o

f the

Pro

ject

for t

he D

evel

opm

ent a

nd E

nhan

cem

ent o

f C

airo

’s F

atam

id N

eigh

borh

oods

(2)

300

10/2

014

07/0

4/20

14

9Ye

men/

Contr

ibutio

n to t

he F

inanc

ing of

the F

ourth

Pha

se of

the P

rogr

am to

Res

tore a

nd R

ehab

ilitat

e the

Gran

d Mos

que i

n Old

Sana

’a (2

)50

011

/201

407

/04/

2014

10Su

dan/

Con

tribu

tion

to th

e Fi

nanc

ing

of th

e “S

avin

g Si

ght i

n N

orth

Kor

dofa

n G

over

nora

te”

Prog

ram

(2)

250

14/2

014

07/0

4/20

14*

Leba

non/

Con

tribu

tion

to th

e Pr

ojec

ts a

nd P

rogr

ams f

or th

e U

rgen

t Rel

ief o

f Syr

ian

Ref

ugee

s in

Leba

non

(5)

1579

17/2

013

09/0

4/20

14*

*Jo

rdan

/ Con

tribu

tion

to th

e Pr

ojec

ts a

nd P

rogr

ams f

or th

e U

rgen

t Rel

ief o

f Syr

ian

Ref

ugee

s in

Jord

an (5

)15

7918

/201

309

/04/

2014

11Tu

nisi

a/ C

ontri

butio

n to

the

Fina

ncin

g of

a S

tudy

on

the

Res

truct

urin

g of

the

Publ

ic B

anki

ng S

ecto

r (3)

300

16/2

014

08/0

6/20

1412

Leba

non/

Con

tribu

tion

to th

e Pro

ject o

n th

e “De

sign

and

Deve

lopm

ent o

f the

Elec

troni

c Con

tent i

n Sc

ience

and

Math

emati

cs” (2

)30

017

/201

408

/06/

2014

13Le

bano

n/ C

ontri

butio

n to

the

Fina

ncin

g of

a W

ater

Tre

atm

ent P

roje

ct a

t Dar

Al-A

jaza

Al I

slam

ia H

ospi

tal i

n Be

irut (2

)10

020

/201

408

/06/

2014

14Ye

men

/ Con

tribu

tion t

o the

Fin

ancin

g of t

he E

stabl

ishm

ent o

f a T

rain

ing C

enter

for A

lrahm

a Fou

ndati

on fo

r Hum

an D

evelo

pmen

t (2)

400

22/2

014

08/0

6/20

14

15Le

bano

n/ S

uppo

rt to

the A

ctiv

ities

of t

he F

riend

s Com

mitt

ee o

f the

Soc

ial W

elfa

re In

stitu

tion

– D

ar A

l Ayt

am A

l Is

lam

iya

– “A

shgh

alou

na” (2

) 50

24/2

014

24/0

7/20

14

16C

omor

os/ H

ydro

elec

tric

Gen

erat

ing

Uni

ts (2

)30

0026

/201

422

/12/

2014

17A

lger

ia/ C

ontri

butio

n to

the

Fina

ncin

g of

the

Proj

ect t

o Su

ppor

t the

Cap

abili

ties o

f Man

agem

ent o

f Pub

lic B

anks

an

d B

anki

ng S

uper

visi

on(2

)13

027

/201

422

/12/

2014

18B

ahra

in/ C

ontri

butio

n to

the

Fina

ncin

g of

the

Proj

ect o

n th

e D

evel

opm

ent o

f Nei

ghbo

rhoo

ds in

Muh

arra

q (2

)25

028

/201

422

/12/

2014

19Le

bano

n/ C

ompl

etio

n of

the

Con

stru

ctio

n of

a S

econ

d B

uild

ing

for t

he A

l Isl

ah Is

lam

ic H

igh

Scho

ol in

Leb

anon

(2)

250

29/2

014

22/1

2/20

1420

Som

alia

/ Con

tribu

tion

to th

e So

mal

ia T

rust

Fund

for C

apac

ity D

evel

opm

ent i

n M

acro

econ

omic

Pol

icie

s and

Sta

tistic

s (2)

900

30/2

014

22/1

2/20

14Su

btot

al10

768

(1) F

easi

bilit

y St

udie

s an

d Pr

ojec

t Pre

para

tion

(2)

Inst

itutio

nal S

uppo

rt an

d Tr

aini

ng(3

) Gen

eral

Stu

dies

and

Res

earc

h

(4)

Sem

inar

s an

d C

onfe

renc

es(5

) Em

erge

ncy

Prog

ram

s

* Th

e am

ount

of g

rant

no.

17/

2013

was

incr

ease

d by

KD

157

9 th

ousa

nd, t

o be

com

e KD

3 m

illion

.**

The

am

ount

of g

rant

no.

18/

2013

was

incr

ease

d by

KD

157

9 th

ousa

nd, t

o be

com

e KD

3 m

illion

.

Annual Report 201423

Grants Approved During 2014Table 3 (continued)

No. Beneficiary/Grant Amount Allocated(KD 000) No. of Grant Date of Board Approval

B: Inter-Arab Grants

1 Inter-Arab (OAPEC)/ Coverage of Half the Expenses of the 10th Arab Energy Conference to be held in Abu Dhabi (4) 100 3/2014 05/03/2014

2 ERF/ Supporting ERF’s Twentieth Annual Meeting (4) 100 7/2014 05/03/2014

3 ICARDA/ Contribution to Support the Development of ICARDA’s Regional Offices in Jordan, Lebanon, Egypt, Morocco and Tunisia (2) 1000 8/2014 05/03/2014

4 Arab Planning Institute/ Contribution to the Institute’s Programs and Activities for the Year 2013/2014 (2) 100 12/2014 07/04/2014

5 Inter-Arab (Arab Fund)/ Contribution to the Financing of a Symposium on “Reforming the Education System in the Arab World with the View of Enhancing Employability of Outcomes” (4) 50 13/2014 07/04/2014

6 ERF/ Contribution to the Financing of the Activities of the Arab Spring Initiative for Development during the Period 2014 - 2015 (2) 260 15/2014 07/04/2014

7 Gulf Research Center/ Contribution to the Financing of the Fifth Gulf Research Forum (4) 20 18/2014 08/06/2014

8 Inter-Arab/ Contribution to the Financing of the First Arab Conference on Higher Education and Integrated Development at the University of Hadramout (4) 30 19/2014 08/06/2014

9 Arab Forum for Environment and Development/ Contribution to the Financing of the Seventh Annual Conference (4) 30 21/2014 08/06/2014

10 ICARDA/ Contribution to the Financing of the Second Phase of the Project on the Enhancement of Food Security in Arab Countries (2) 600 23/2014 08/06/2014

11 Inter-Arab/ Printing of Documents and Publications of the Eleventh Gulf Conference on Water (4) 20 DG/25-2014 15/10/2014

Subtotal 2310

Total 13078

(1) Feasibility Studies and Project Preparation (2) Institutional Support and Training(3) General Studies and Research (4) Seminars and Conferences(5) Emergency Programs


Gra

nts

App

rove

d D

urin

g 20

14Ta

ble

3 (c

ontin

ued)

No.

Ben

efic

iary

/Gra

ntA

mou

nt A

lloca

ted

(KD

000

)N

o. o

f G

rant

Dat

e of

Boa

rd A

ppro

val

B: In

ter-

Ara

b G

rant

s

1In

ter-A

rab

(OA

PEC)

/ Cov

erag

e of

Hal

f the

Exp

ense

s of t

he 1

0th A

rab

Ener

gy C

onfe

renc

e to

be

held

in A

bu D

habi

(4)

100

3/20

1405

/03/

2014

2ER

F/ S

uppo

rting

ER

F’s T

wen

tieth

Ann

ual M

eetin

g (4

)10

07/

2014

05/0

3/20

14

3IC

AR

DA

/ Con

tribu

tion

to S

uppo

rt th

e D

evel

opm

ent o

f IC

AR

DA’

s R

egio

nal O

ffice

s in

Jor

dan,

Leb

anon

, Egy

pt,

Mor

occo

and

Tun

isia

(2)

1000

8/20

1405

/03/

2014

4A

rab

Plan

ning

Inst

itute

/ Con

tribu

tion

to th

e In

stitu

te’s

Pro

gram

s and

Act

iviti

es fo

r the

Yea

r 201

3/20

14 (2

)10

012

/201

407

/04/

2014

5In

ter-A

rab

(Ara

b Fu

nd)/

Con

tribu

tion

to th

e Fi

nanc

ing

of a

Sym

posi

um o

n “R

efor

min

g th

e Ed

ucat

ion

Syst

em in

the

Ara

b W

orld

with

the

Vie

w o

f Enh

anci

ng E

mpl

oyab

ility

of O

utco

mes

” (4)

5013

/201

407

/04/

2014

6ER

F/ C

ontri

butio

n to

the F

inan

cing

of t

he A

ctiv

ities

of t

he A

rab

Sprin

g In

itiat

ive f

or D

evel

opm

ent d

urin

g th

e Per

iod

2014

- 20

15 (2

)26

015

/201

407

/04/

2014

7G

ulf R

esea

rch

Cen

ter/

Con

tribu

tion

to th

e Fi

nanc

ing

of th

e Fi

fth G

ulf R

esea

rch

Foru

m (4

) 20

18/2

014

08/0

6/20

14

8In

ter-A

rab/

Con

tribu

tion

to t

he F

inan

cing

of

the

Firs

t A

rab

Con

fere

nce

on H

ighe

r Ed

ucat

ion

and

Inte

grat

ed

Dev

elop

men

t at t

he U

nive

rsity

of H

adra

mou

t (4)

3019

/201

408

/06/

2014

9A

rab

Foru

m fo

r Env

ironm

ent a

nd D

evel

opm

ent/

Cont

ribut

ion

to th

e Fi

nanc

ing

of th

e Se

vent

h A

nnua

l Con

fere

nce

(4)

3021

/201

408

/06/

2014

10IC

AR

DA

/ Con

tribu

tion

to th

e Fi

nanc

ing

of th

e Se

cond

Pha

se o

f the

Pro

ject

on

the

Enha

ncem

ent o

f Foo

d Se

curit

y in

Ara

b C

ount

ries (2

)60

023

/201

408

/06/

2014

11In

ter-A

rab/

Prin

ting

of D

ocum

ents

and

Pub

licat

ions

of t

he E

leve

nth

Gul

f Con

fere

nce

on W

ater

(4)

20D

G/2

5-20

1415

/10/

2014

Subt

otal

2310

Tota

l13

078

(1) F

easi

bilit

y St

udie

s an

d Pr

ojec

t Pre

para

tion

(2)

Inst

itutio

nal S

uppo

rt an

d Tr

aini

ng(3

) Gen

eral

Stu

dies

and

Res

earc

h

(4)

Sem

inar

s an

d C

onfe

renc

es(5

) Em

erge

ncy

Prog

ram

s


Grant Commitments by Activity(KD 000)

Table 4

Activity

During 2014 During the Period 1974 - 2014

National Grants Inter-Arab Grants Total National Grants Inter-Arab Grants Total

Amount % Amount % Amount % Amount % Amount % Amount %

1 Feasibility Studies and Project Preparation 200 1.9 200 1.5 16820 11.8 6380 10.5 23200 11.4

2 Institutional Support and Training 7110 66.0 1960 84.8 9070 69.4 71185 49.7 34605 56.9 105790 51.9

3 General Studies and Research 300 2.8 300 2.3 5600 3.9 13071 21.5 18671 9.1

4 Seminars and Conferences 350 15.2 350 2.7 164 0.1 4759 7.8 4923 2.4

5 Emergency Programs 3158 29.3 3158 24.1 49319 34.5 2000 3.3 51319 25.2

Total* 10768 100.0 2310 100.0 13078 100.0 143088 100.0 60815 100.0 203903 100.0

* Does not include an amount of about KD 127.3 million allocated by the Board of Governors of the Arab Fund to support the Palestinian people, over the period 2001 - 2014.


Gra

nt C

omm

itm

ents

by

Act

ivit

y(K

D 0

00)

Tabl

e 4

Act

ivity

Dur

ing

2014

Dur

ing

the

Peri

od 1

974

- 201

4

Nat

iona

l Gra

nts

Inte

r-A

rab

Gra

nts

Tota

lN

atio

nal G

rant

sIn

ter-

Ara

b G

rant

sTo

tal

Am

ount

%A

mou

nt%

Am

ount

%A

mou

nt%

Am

ount

%A

mou

nt%

1Fe

asib

ility

Stu

dies

and

Pr

ojec

t Pre

para

tion

200

1.9

200

1.5

1682

011

.863

8010

.523

200

11.4

2In

stitu

tiona

l Sup

port

and

Tr

aini

ng71

1066

.019

6084

.890

7069

.471

185

49.7

3460

556

.910

5790

51.9

3G

ener

al S

tudi

es a

nd

Res

earc

h30

02.

830

02.

356

003.

913

071

21.5

1867

19.

1

4Se

min

ars a

nd C

onfe

renc

es35

015

.235

02.

716

40.

147

597.

849

232.

4

5 Em

erge

ncy

Prog

ram

s31

5829

.331

5824

.149

319

34.5

2000

3.3

5131

925

.2

To

tal*

10768

100.0

2310

100.0

13078

100.0

143088

100.0

60815

100.0

203903

100.0

* D

oes

not i

nclu

de a

n am

ount

of a

bout

KD

127

.3 m

illion

allo

cate

d by

the

Boar

d of

Gov

erno

rs o

f the

Ara

b Fu

nd to

sup

port

the

Pale

stin

ian

peop

le,

over

the

perio

d 20

01 -

2014

.


National Grants during 2014

National Grants during the Period 1974 - 2014

Grant Commitments by Activity(Percentage)

Inst. Support & Training

66.0%

EmergencyPrograms

29.3%

Feasibility Studies &

Project Prep. 1.9%

General Studies & Research

2.8%

Inst. Support & Training

49.7%

Emergency Programs

34.5%

Feasibility Studies & Project Prep.

11.8%


3.9%

Seminars & Conf.

0.1%

Inter-Arab Grants during 2014

Inter-Arab Grants during the Period 1974 - 2014

Seminars & Conf.15.2%

Inst. Support& Training

84.8%

Feasibility Studies &

Project Prep.10.5% Inst. Support

& Training56.9%


21.5%

Emergency Programs

3.3%

Seminars & Conf.

7.8%


The Arab Fund’s Graduate Program for Palestinian Students

In 2012 the Arab Fund established, in cooperation with the British Council in Jerusalem, the Graduate Program for Palestinian Students at British Universities, with the aim to develop their educational and academic abilities. This program is considered to be the largest of its kind for Palestinians in the United Kingdom. It provides grants to Palestinian students who excel in their fields of specialization, to study at prestigious British universities to obtain their masters or doctorate degrees, and then work at Palestinian universities in the areas of research and teaching, to transfer the acquired knowledge, teaching methods and research they gain to those universities.

This program contributes to the training and qualification of the academicians who work at Palestinian universities, with the aim to raise the academic competencies and maintain international standards at Palestinian universities, and reinforce their educational capabilities, as well as strengthen the links between British and Palestinian universities. To date, the program has provided 51 grants to Palestinian students from 16 Palestinian universities, to study at 18 prestigious British universities for the masters or doctorate degrees in their fields of specialization. The graduate program includes business administration, economics and finance, educational management, political science, international studies, governance, agriculture, engineering, law, environmental studies, nursing, information technology, clean energy and energy management.

The program is being implemented under the management and supervision of the British Council, which provides grants to study at the British universities, while the Arab Fund covers all the students’ expenses, including travel and housing expenses, in the United Kingdom.

The program has resulted in additional advantages, by allowing the students to benefit from the British educational and academic experiences. It also provided some of the students with the opportunity to work with scientists who are distinguished in their field of specialization, as well as the opportunity to work at some of the best scientific research laboratories in many fields. The program also contributed to the strengthening of ties between British and Palestinian universities. It is expected that this program will be implemented yearly, in order to meet the continued demand to raise competencies.


Third: Other Activities

Coordination between the Arab National1. and Regional Development Institutions

The Arab Fund continued to act as the Coordination Secretariat of the Coordination Group, which includes the Arab national and regional development institutions, and preparing their periodic meetings and the meetings of the technical committees. The thirteenth meeting of the Heads of these institutions took place on January 19, 2014, at the Arab Fund headquarters in Kuwait. During that meeting, the heads of the institutions discussed topics relating to the intensification of support to Arab countries going through a transition period and expanding the support to include all Arab countries, by combining bilateral initiatives and co-financing on the one hand, and the development of joint operations between the Group’s institutions and the Development Assistance Committee of the Organisation for Economic Co-operation and Development (OECD/DAC) on the other hand. The Heads of institutions meeting was followed by a High Level meeting between the Coordination Group and DAC on January 20, 2014, at the Arab Fund headquarters. During that meeting, the participants discussed topics related to the promotion and development of their joint efforts to support development in the world, and particularly in Arab countries.

The Arab Fund, along with representatives of the Coordination Group institutions, participated in the First High-Level Meeting of the Global Partnership for Effective Development Co-operation, which was held in Mexico City, Mexico, during the period 15 – 16/4/2014. The meeting was attended by about 1500 delegates representing more than 130 countries, along with representatives from international and regional financial institutions, parliaments, the private sector, unions and civil society organizations.

During the year, the seventy third and seventy fourth Coordination Group meetings took place, with the participation of several international institutions, including the World Bank, the International Finance Corporation, the German Institution for International Cooperation (GIZ), the Arab Authority for Agricultural Investment and Development, and the OECD. The meetings aimed at studying and discussing ways and means to strengthen and expand cooperation, to include existing projects in the beneficiary countries, especially projects in the sectors of infrastructure, agriculture, rural development, energy, education and health.

The Arab Fund also participated in the eighth meeting to strengthen cooperation between trade finance and guarantee institutions, that took place at the Saudi Fund for Development headquarters in Riyadh, Saudi Arabia, during the period 10 – 11/9/2014. This meeting brought together the Coordination Group member institutions that specialize in trade finance programs and export credit. The focus of the meeting was on the importance of expanding credit and conducting certain operations in the African markets, in order to increase the level of Arab exports to African countries. An agreement was reached to prepare a final report on the initiative of an Arab Africa Trade Bridge Program, to enhance commercial trade between Arab and African countries.


Management of Special Account2.

By the end of the year, a total of 18 Arab countries had contributed to the Special Account, in addition to the Arab Fund, with total pledged contributions reaching US Dollars 1310.0 million, of which US Dollars 1262.5 million were paid.

Special Account projects were studied during the year in eight Arab countries, through evaluation of the needs of small and medium enterprises, and determination of financial intermediaries eligible to borrow from the Special Account to finance these projects. In addition, visits were made to several institutions, both governmental and non-governmental, that work towards the development of small and medium enterprises, in order to inquire about their activities and their needs.

Seven loans were approved during the year by the Special Account’s management committee, for a total amount of US Dollars 260.0 million. These loans were provided to governments and intermediary financial institutions in Palestine, Djibouti, Bahrain, Oman, Tunisia and Egypt. Table 5 shows the loan commitments by the Special Account during 2014. This brings the total number of loans approved by the management committee to 23, for a total amount of US Dollars 748.0 million.

Table 5Loan Commitments Approved by the Special Account’s

Management Committee During 2014

No. Country Institution

Amount of Loan (Million

US Dollars)

Date of Approval

1 Palestine Palestine Investment Fund 30 06/03/2014

2 Republic of Djibouti Economic Development Fund of Djibouti (Second Loan) 20 06/03/2014

3 Kingdom of Bahrain Bahrain Development Bank(Second Loan) 50 22/06/2014

4 Sultanate of Oman Government of Oman 50 22/06/2014

5 Republic of Tunisia Government of Tunisia 50 22/06/2014

6 Arab Republic of Egypt National Bank of Egypt 50 25/12/2014

7 Palestine Palestine for Credit and Development(Second Loan) 10 25/12/2014

Total 260

In order to expand the scope of its activities and increase the effectiveness of its interventions to support the development of small and medium enterprises in Arab countries to provide employment opportunities and contribute to the reduction of poverty, the Special Account has expanded its cooperation with entities that have experience in institutional and legislative support to small and medium enterprises.


Study of Sudan Project to Achieve Food Security 3. for the Arab World

The Arab Fund allocated a grant to conduct a study aimed at achieving food security for the Arab countries through the Sudan project. The study comprises the four following tasks: Task I involves the estimation of the food gap in the Arab countries, for five major crops, up to the year 2030. Task II involves assessing the capabilities and resources available in Sudan that could help reduce this food gap. Task III involves the construction of a mathematical model to determine the best utilization of water, land and labor resources, available in Sudan, for producing products that could be exported to the Arab countries, at competitive prices. Task IV involves the development of a sectoral plan, based on the projects identified in Task III of the study.

Task I of the study was completed in mid-2014. It identified the food gap in wheat, sugar, oils, meat and dairy in the Arab countries throughout the period 2013 – 2030. Task II of the study was completed at the end of the third quarter of the same year. It identified the crops to be grown in Sudan, and exported to the Arab countries, at competitive prices, to reduce part of the food gap. It is expected that the entire study will be completed by the end of the first quarter of 2015.

Study of Pan-Arab Interconnection and4. Utilization of Natural Gas

The cost of generating electricity varies significantly from one Arab country to the other, mainly due to the availability of abundant quantities of natural gas in some countries, and lack thereof in others, thus creating good opportunities for energy trade. To capitalize on this situation and make better use of the electrical interconnections that have been constructed, and in an effort to develop an integrated master plan for upgrading the generation and transmission systems in the Arab countries, the Arab Fund allocated a grant to finance a study to determine the optimum plan for every Arab country, and for all Arab countries combined, to attain the best tradeoff between exporting natural gas and exporting electricity.

The draft final report of the study was completed in the fourth quarter of 2013. Its main result included the development of an integrated strategy for the expansion of the electrical interconnections and gas pipelines between the Arab countries for the period 2012 – 2030, in order to attain the lowest total cost of generation during that period. The study recommended that the Arab countries implement seven new electrical interconnection projects, two gas pipelines and an LNG reception terminal.

The report estimated that the implementation of the recommended projects would lead to the reduction of the total cost of generation for the Arab countries, during the period 2012 – 2030, by around US Dollars 127 billion, of which US Dollars 7 billion as savings in capital costs and US Dollars 120 billion as savings in operating costs.

In addition to recommending future electricity and gas projects, the consultant constructed an integrated mathematical model to determine the most appropriate price for energy exchange between the Arab countries, in order to provide equitable compensation for the countries that will suffer losses due to energy flowing in their networks as a result of energy being exchanged between their neighboring countries.


A meeting was held at the Arab Fund headquarters, in January 2014, to present the outcome of the study. During the meeting, which was attended by representatives of the countries that participated in the study, the consultant presented the results and recommendations of the study and received comments on the draft final report. The consultant issued the final report of the study in April 2014, which took into consideration all comments received. A copy of this report was sent to each participating country.

Arab Spring5. Development Initiative (ASDI)

ASDI aims at contributing to the ongoing political and economic transformation in the Arab region, with a view to promote shared prosperity in a context of good governance and enhanced access to knowledge and data, towards meeting the challenges of transition. ASDI builds on a successful partnership that was formed during the period 2009 – 2013 between the World Bank and the Arab Fund for a “Research Initiative for Arab Development” (RIAD), which was agreed on the ground of matching contributions and carried out by the Economic Research Forum (ERF). Likewise, ASDI is being implemented by ERF in partnership with both the World Bank and the Arab Fund. The ERF governance structure will oversee the implementation of the Initiative. In addition, a Scientific Committee (SC) and a Donors’ Committee (DC) were set up to follow up the implementation of the Initiative.

ASDI will focus on three main areas of activity:Open Access Data:1. This new platform parallels the successful World Bank initiative on making data available to researchers and policymakers alike. The main distinction between the two initiatives is that ERF will focus on the Arab countries, where micro data are generally not available or inaccessible. This is a large undertaking that responds directly to the Arab Spring demand for more transparency and accountability.

Knowledge Creation:2. The emphasis in this area will be on four themes that are of critical importance to the region at this juncture in its development, namely: (i) The Economics and Politics of Arab Awakening, (ii) Inequality, (iii) Employment, and (iv) Natural Resources and Economic Diversification. Work in these areas is aimed at bridging the knowledge gap in the countries of the region to identify policy choices and improve policy design.

Policy 3. Dialogue: Systematic effort will be made to create a variety of platforms for policy discussions, by varying topics and stakeholders including researchers and policy makers as well as tools and formats to maximize impact. In particular, channels of communication using new social media and internet tools will be adopted.

6. Arab Development Portal

Recognizing the importance of having accurate and timely information for making informed decisions, the heads of the national and regional institutions that constitute the Coordination Group (CG) agreed to jointly finance an ambitious program to develop the Arab Development Portal (ADP).


ADP is a knowledge platform and community of practice, which supports knowledge flows and collaboration through real time partnerships, learning opportunities and sharing of best practices, document and data retrieval and manipulation, blogs, discussion spaces, user memberships and on-line community development.

Due to the size of the undertaking, the CG members decided to implement the project in three phases. Phase I was limited to 5 economic themes in two Arab countries, and was to serve as a pilot project, with the aim of achieving proof of concept and receipt of feedback from the users on the usefulness of the portal and how the design/interface could be improved. In Phase II, the number of countries was increased to include all Arab countries, and the database was expanded by an additional 4 economic themes. In this phase, the United Nations Development Program (UNDP) is expected to recommend the final design of the portal, and estimate the cost of operating and maintaining it upon its completion, prior to having one of the CG members host the portal and continue to update and expand its content.

It is worth noting that the OPEC Fund for International Development (OFID), on behalf of the CG members, signed contracts, totaling around US Dollars 2 Million, with UNDP and the World Bank for the development of Phases I and II. The development of Phase I was completed in March 2014, and it is expected that the development of Phase II will be completed by mid-2015. Once all three phases are finished, it is envisioned that ADP will serve as a reference point for all economic, labor, regulatory, educational, health and infrastructure information in the Arab world.

7. Enhancing Food Security in Arab Countries

The Arab Fund contributed to the project on Enhancing Food Security in Arab Countries, in cooperation and coordination with the International Center for Agricultural Research in Dry Areas (ICARDA) and a number of Arab financial institutions. This project aims at developing the capabilities of national agricultural research centers and farmers in 10 Arab countries, namely Egypt, Sudan, Morocco, Tunisia, Jordan, Yemen, Syria, Palestine, Iraq and Algeria, to adopt and use modern technologies to achieve a sustainable increase in grain production, including the development of methodologies and ways to transfer technology and disseminate it among farmers on a wide scale. The project also aims at establishing effective partnerships between national and international agricultural research centers in grain and wheat, in order to develop modern irrigation systems for the production of grain, integrated management of production and prevention, transfer these technologies to farmers, and improve the technology packages to suit the local environment and agricultural systems in Arab countries. This project falls within the framework of the priorities set forth by the Arab Economic and Developmental and Social Summit, held in Kuwait in 2009, which emphasized the necessity to enhance Arab food security as it is considered one of the pillars of Arab national security.

With the aim of increasing cooperation between national agricultural research centers in Arab countries and ICARDA, and attracting the required financing to expand the activities of the project, in order to continue to implement the technologies and research, and widen circulation and publication of its results among the targeted segments to achieve


tangible increases in agricultural production, specifically wheat, the Arab Fund hosted at its headquarters during the period 11 – 12 November, 2014, a joint ministerial meeting for Arab countries and ICARDA on food security in Arab countries. The meeting was attended by Arab agriculture ministers and Arab national and regional financial institutions. At the conclusion of the meeting, a declaration was issued confirming the Arab countries’ continued interest and support to execute the future phases of the project, expand the implementation of its outcomes to other areas in every Arab country within its strategy to enhance food security, establish an information network to exchange experience and knowledge on ways to enhance food security, and invite Arab financial institutions to contribute to this project.

8. Third Arab Development Symposium: “Reforming the Education System in the Arab World with the View of Enhancing Employability of Outcomes”

The Symposium was the third in the series of Arab Development Symposia co-organized by the Arab Fund and the World Bank for the purpose of addressing pressing developmental issues in Arab countries. The Symposium was held on November 5, 2014, at the Arab Fund headquarters, and aimed at providing an overview of the status of the employability of the educational sector graduates in Arab countries. More specifically, the Symposium identified the main constraints hindering the improvement of the employability of educational outcomes, and underlined both general public policies and reforms capable of overcoming these constraints and improving quality and governance within educational institutions.

The Symposium focused on four areas: i) determining whether the Arab education systems serve as barriers or enhancers of employability; ii) improving the links between education and the labor market by looking at the role of public policy at the macroeconomic level; iii) strengthening the role of governance and accountability in improving the quality of education and employability at the microeconomic level, and iv) overviewing international, regional and national experiences and delineating best practices.

The Symposium was attended by a selected group of international experts, officials from international and regional organizations, and specialists and decision makers from within and outside the Arab region.

9. Tenth Arab Energy Conference

The Arab Fund, in cooperation with the Organization of Arab Petroleum Exporting Countries (OAPEC), organized and shared the expenses of the Tenth Arab Energy Conference, which was held in Abu Dhabi, U.A.E., during the period 21 – 23 December 2014.

The Conference addressed various energy issues in the Arab world, including the latest drilling and refining technologies, the future prospects of the energy sector and the main challenges facing it, the future of renewable energy in the Arab world, techniques for energy conservation in power plants and industry, along with the various means of cooperation between Arab countries in the areas of electricity and natural gas.


The Arab Fund prepared and presented to the Conference a paper summarizing the results of the recent study that it financed and supervised, which aimed at determining the feasibility of Pan Arab electrical interconnection and the utilization of natural gas for the export of electricity. The presentation covered the objectives of the study, its components, and its main results and recommendations.

10. Preparation of the Joint Arab Economic Report

The Arab Fund annually participates in the preparation of the Joint Arab Economic Report, in cooperation with the General Secretariat of the League of Arab States, the Arab Monetary Fund and the Organization of the Arab Petroleum Exporting Countries. The Arab Fund contributes to the report with the chapters on economic and social development, the agriculture and water sector, the industrial sector, and Arab developmental aid. The Arab Fund also prepares, on a rotating basis with the Arab Monetary Fund, the chapter that addresses the theme of the report. The theme of this year’s report was “Reforming the Energy Support System in Arab Countries”.

11. Various Activities

The Arab Fund continued to monitor the activities of the Arab Trade Financing Program in coordination with the Arab Monetary Fund, and through its membership on the Board of Directors of the Program. It also continued its cooperation with specialized Arab and international organizations in order to help improve the efficiency of their interventions in Arab countries.


Fourth: Financial Statements for the Financial YearEnded 31 December 2014

I. Financial Position Assets:The value of Arab Fund Assets increased in 2014 by KD 234 million (8%) compared to 2013 reaching KD 3,207 million, this increase was mainly in Loans as shown in the below schedule:

Variation20132014Assets KD

Million% KD

Million% KD

Million

(10)1%411%31Cash & Cash Equivalents

5611%33512%391Investments

19587% 2,56286% 2,757Loans

(7)1%351%28Others Assets

234100% 2,973100% 3,207Total

8%

Liabilities:The value of Liabilities increased in 2014 by KD 6.9 million (5%) compared to 2013 reaching KD 155 million, this increase was mainly in Special Account for Financing Small and Medium Enterprises as shown in the below schedule:

Variation20132014Liabilities KD

Million% KD

Million% KD

Million

9.847%69.651%79.4Special Account for Financing Small and Medium Enterprises

3.421%30.922%34.3Grants

0.98%11.98%12.8Provision for Pension Fund

(7.2)24%35.719%28.5Other Liabilities

6.9100%148.1100%155.0Total

5%

Members’ Equity:The value of Members’ Equity increased in 2014 by KD 227 million (8%) compared to 2013 reaching KD 3,052 million, this increase was mainly from reserves as shown in the below schedule:


Variation20132014Members’ Equity KD

Million% KD

Million% KD

Million

5588% 2,500 84% 2,555 Share Capital

99%2468%255General Reserve

1583%768%234Additional Reserve *

50%30%8Other Reserves

227100% 2,825 100% 3,052 Total

8%

II. Income & ExpendituresIncome:Total Income for the year amounted to KD 92.7 million compared to KD 87.1 million in 2013, with an increase of 6% reaching KD 5.6 million. This increase was mainly from Interest Income from Loans as shown in the below schedule:

Variation20132014Income KD

Million% KD

Million% KD

Million

5.577%67.278%72.7Interest Income from Loans

(3.7)24%21.219%17.5Gain from Investments

3.8 (1) %(1.2)3%2.6Income of Arab Trade Finance Program

0.00%(0.1)0%(0.1)Other operating (Loss)

5.6100%87.1100%92.7Total

6%

Expenditures:Total Administrative Expenses for the year amounted to KD 8.3 million compared to KD 8.1 million in 2013, this increase KD 0.2 million (2%) was a result of Other Expenses as shown in the below schedule:

Variation20132014Expenditures KD

Million% KD

Million% KD

Million

0.177%6.276%6.3Staff Cost

0.123%1.924%2.0Other Expenses

0.2100%8.1100%8.3Total

2%

* The general provision of loans which amounted to KD 96.8 million is transferred to the additional reserve.


Net Profit:

Net profit for the year amounted to KD 84.4 million compared to KD 33.5 million in 2013, this

increase KD 50.9 million (152%) was a result of an increase in Income and discontinued

method of calculation of Loans’ Provision as shown in the below schedule:

Variation20132014Net Profit KD

Million% KD

Million% KD

Million

5.379.184.4Net Profit before Provision

45.6(45.6)0Loans’ Provision

50.933.584.4Net Profit of the Year

152%

III. Cash Flows

Shown below is a schedule summarizing the main Cash Flows:

KD MillionCash Flows

20132014

(32.4)(104.6)Net change in trading investments

(251.5)(257.8)Disbursements of loans

158.4159.1Loans Repayments

(10.1)(8.0)Disbursements of grants

80.179.2Interest received

0.054.9Paid up Capital

IV. Financial Indicators of Arab Fund Performance

20132014Financial Ratios

%%

1.1%2.6%Net Income/ Assets

1.2%2.8%Net Income/ Members’ Equity

9.3%9.0%Expenditures/ Revenues

86.2%86.0%Loans/ Assets

90.7%90.3%Loans/ Members’ Equity


Arab Fund for Economic and Social DevelopmentStatement of Financial Position

As at 31 December 2014 (KD 000)

2014 2013

Assets

Cash and cash equivalents 31,344 41,174

Investments 317,194 286,129

Investment in associate 73,233 49,214

Loans 2,756,985 2,561,474

Receivables from participants in the building 6,677 7,023

Other assets 21,321 27,842

Total assets 3,206,754 2,972,856

Liabilities and members’ equity

Liabilities

Special account for financing small and medium enterprises 79,412 69,546

Grants 34,299 30,902

Provision for pension fund 12,812 11,946

Other liabilities 28,475 35,674

Total liabilities 154,998 148,068

Members’ equity

Share capital 2,554,909 2,500,000

General reserve 254,650 246,207

Additional reserve 233,781 76,389

Grants reserve 4,296 3,752

Change in the fair value reserve 4,120 (1,560)

Total members’ equity 3,051,756 2,824,788

Total liabilities and members’ equity 3,206,754 2,972,856


Arab Fund for Economic and Social DevelopmentStatement of Comprehensive IncomeFor the year ended 31 December 2014

(KD 000)

2014 2013

Income

Interest income from loans 72,730 67,229

Net investments gain 17,384 21,193

Interest income from time deposits and call accounts 66 38

Gain/ (Loss) from an associate 2,625 (1,268)

Operating expenses (51) (46)

Net income 92,754 87,146

Administrative expenses

Staff costs 6,326 6,137

Other expenses 2,001 1,925

8,327 8,062

Net Income before provision for loans 84,427 79,084

Provision for loans 0 (45,571)

Net profit for the year 84,427 33,513

Other comprehensive income

Net change in fair value of investments available for sale 5,680 580

Other comprehensive income for the year 5,680 580

Total comprehensive income for the year 90,107 34,093


Arab Fund for Economic and Social DevelopmentStatement of Changes in Members’ Equity

For the year ended 31 December 2014 (KD 000)

ShareCapital

General Reserve

Additional Reserve

Grants Reserve

Change in Fair Value

Reserve

Retained Earnings Total

Balance as at 1 January 2014 2,500,000 246,207 76,389 3,752 (1,560) 0 2,824,788

Profit for the year 0 0 0 0 0 84,427 84,427

Other comprehensive income for the year 0 0 0 0 5,680 0 5,680

Total comprehensive income for the year 0 0 0 0 5,680 84,427 90,107

Share Capital paid 54,909 0 0 0 0 0 54,909

Transferred from general loans provision 0 0 96,803 0 0 0 96,803

Transfer to support people of Palestine 0 0 (3,351) 0 0 0 (3,351)

Transfer to Arab Academic Fellowship 0 0 0 0 0 (135) (135)

Transfer to grants reserve 0 0 (7,688) 11,909 0 (4,221) 0

Transfer to general reserve 0 8,443 0 0 0 (8,443) 0

Transfer to additional reserve 0 0 71,628 0 0 (71,628) 0

Grants approved 0 0 0 (13,078) 0 0 (13,078)

Grants cancelled and transferred 0 0 0 1,713 0 0 1,713

As at 31 December 2014 2,554,909 254,650 233,781 4,296 4,120 0 3,051,756

Balance as at 1 January 2013 2,000,000 242,856 561,275 6,641 (2,140) 0 2,808,632

Profit for the year 0 0 0 0 0 33,513 33,513

Other comprehensive income for the year 0 0 0 0 580 0 580

Total comprehensive income for the year 0 0 0 0 580 33,513 34,093

Transferred to Capital 500,000 0 (500,000) 0 0 0 0

Transfer to support people of Palestine 0 0 (10,362) 0 0 0 (10,362)

Transfer to Arab Academic Fellowship 0 0 0 0 0 (168) (168)

Transfer to grants reserve 0 0 (2,842) 4,518 0 (1,676) 0

Transfer to general reserve 0 3,351 0 0 0 (3,351) 0

Transfer to additional reserve 0 0 28,318 0 0 (28,318) 0

Grants approved 0 0 0 (7,412) 0 0 (7,412)

Grants cancelled and transferred 0 0 0 5 0 0 5

As at 31 December 2013 2,500,000 246,207 76,389 3,752 (1,560) 0 2,824,788


Arab Fund for Economic and Social DevelopmentStatement of Cash flows

For the year ended 31 December 2014 (KD 000)

2014 2013

Operating Activities

Profit for the year 84,427 33,513

Adjustments:

Interest income from loans (72,730) (67,229)

Unrealized gains on investments (5,543) (11,068)

Interest income from time deposits and call accounts (66) (38)

Share in results from an associate (2,625) 1,268

Provision for Loans 0 45,571

Provision for pension fund 1,701 1,625

5,164 3,642

Changes in operating assets and liabilities

Net change in trading investments (104,619) (32,417)

Disbursements of loans (257,848) (251,463)

Loan’s repayments 159,140 158,375

Disbursements of grants (7,968) (10,049)

Receivables from participants in the building 346 346

Other assets 67 (84)

Special Account for Financing Small and Medium Enterprises 9,866 19,854

Other liabilities (10,550) (14,793)

Cash flows used in operations (206,402) (126,589)

Interests received 79,250 80,057

Pensions and employees’ end of service indemnity paid (835) (959)

Net cash flows used in operating activities (127,987) (47,491)

Investing activities

Net changes in other investments 63,248 48,410

Net cash flows from investing activities 63,248 48,410

Cash flows from financing activities

Capital paid 54,909 0

Net cash flows from financing activities 54,909 0

Net (decrease)/increase in cash and cash equivalents (9,830) 919

Cash and cash equivalents at beginning of the year 41,174 40,255

Cash and cash equivalents at end of the year 31,344 41,174


Arab Fund for Economic and Social DevelopmentIndependent Arab Regional Financial Organization - Kuwait

Significant Accounting Policies

a) Statement of complianceThe financial statements of the Fund are prepared in accordance with accounting policies set out below and the establishment convention of the Fund.

b) Basis of measurementThe financial statements are prepared on a fair value basis for financial assets and liabilities held for trading and assets available for sale, except those for which a reliable measure of fair value is not available. Other financial assets and liabilities and non-financial assets and liabilities are carried at amortized cost or historical cost.

The accounting policies followed by the Fund are agreeing accordingly with the same policies followed in the previous year, except in discounting loan provision for impairment.

c) Investments Financial assets and liabilities are classified at fair value through profit or loss when the assets or liabilities are managed, evaluated and reported on a fair value basis.

Financial instruments are measured initially through profit or loss at fair value. Transaction cost on financial instruments expensed through profit or loss immediately. Subsequent to initial recognition, all instruments measured at fair value through profit or loss are re-measured at fair value with changes in their fair value recognized in the profit or loss.

Investments which are not held to maturity or financial assets at fair value through profit or loss are classified as available for sale and are stated at fair value, with any resultant gain or loss being recognized directly in equity, except for impairment losses and, in case of monetary items, foreign exchange gains and losses.

d) LoansThe Fund management reevaluated the accounting policy related to loans. According to the followed policy, loans were listed at amortized cost minus the provision for impairment, where the value of the provision for impairment is estimated when the loans are not expected to be paid in full. This provision is listed in the statement of comprehensive income. According to the current accounting policy, the loans are listed at its amortized cost without any provision for impairment, as it is considered as a guaranteed sovereign loans from the successive governments of member countries.

e) ImpairmentAn assessment is made by the Fund at each reporting date for loans, other assets, available for sale investments and investment in associate ,to determine whether


there is objective evidence that a financial asset or group of financial assets is impaired. All impairment losses are recognized in the profit or loss.

f) Investment in associate The investment in the associated entity is equity accounted.

g) Fixed assetsFixed assets are not capitalized but are fully written off to the statement of comprehensive income in the year of purchase.

h) Provision for pension fund Provision for the Fund’s obligation towards employees’ pension is determined based on contributions paid by the employees’ and the Arab Fund, in addition to a return of 10% p.a. guaranteed by the Arab Fund.

i) Foreign CurrenciesTransactions in foreign currencies are initially recorded by the Fund at their respective functional currency spot rates prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the reporting date are retranslated to the functional currency at the exchange rate at that date. Differences from adjustment of the monetary items are recognized in profit or loss.

j) Cash and cash equivalentsCash comprises of cash on hand and in banks, cash equivalents comprise bank balances and short term deposits.

k) Revenue recognitionInterest income is recorded in profit and loss when earned, using the effective interest rate (EIR). Interest and commission on loans to countries with unpaid past due interest for over three months are excluded from the profit and loss and only recorded as income when received. Interest income from time deposits is recognized on a time proportion basis. Dividend income is recognized when the right to receive payment is established. Fees and commission income is recognized when earned.


ANNEXES


Annex 1

Project Sheets for Loans Extended During the Year 2014


Republic of Djibouti

Social Housing - Phase II (Supplementary Loan)

Loan No.: 607 Interest Rate: 2.5%

Beneficiary:Djibouti Real Estate Company and Ministry of Housing, Urban Planning, and Environment

Grace Period: 5 years

Project Cost: KD 7.44 million Maturity: 25 years Amount of Loan: KD 1.0 million Repayment: 41 semi-annual

installments Date of Loan Agreement: 09/03/2014 First

Installment:

5 years followingthe first disbursement Date of

Effectiveness:

Objectives:

The project aims at meeting the increasing demand for housing units for citizens in the lower income category, in order to improve their living conditions. The project represents the second phase of a plan to build about three thousand housing units in the Balbala area.

Description:

The project includes the construction of approximately 700 housing units in Djibouti City, and the provision of basic services. The project includes the following main components:

Land1. Expropriation and Basic Services: This includes primary leveling, paving of main roads, and provision of basic services through the extension of the main water and electricity lines to the site.

Construction of Houses:2. This includes the construction of approximately 700 housing units, with the build up area of each unit ranging between 70 m2 and 90 m2. It also includes the installation of water, electrical and sewage networks.

Sewage Utilities:3. This includes the installation of the main wastewater collector, and the construction of two pumping stations.

Consultancy Services:4. This includes the preparation of the design and tender documents, and the supervision of project implementation.

ANNEx 1PROJECT 1 OF 13


Financing:

The two Arab Fund’s loans, loan No. 456/2003 and the supplementary loan, cover about 94% of the total project cost. The Government of Djibouti will cover the remaining cost of the project and any additional cost that may arise.



Arab Republic of Egypt Electrical Interconnection Between

the Arab Republic of Egypt and the Kingdom of Saudi Arabia


Beneficiary: Egyptian Electricity Transmission Company Grace Period: 4 years

Project Cost: KD 177.7 million Maturity: 25 yearsAmount of Loan: KD 45.0 million Repayment: 43 semi-annual

installmentsDate of Loan Agreement: 24/03/2014 First

Installment:4 years following the first disbursementDate of

Effectiveness: 02/10/2014

Objectives:

The project aims at interconnecting the Egyptian electric power grid to the Saudi electric power grid using a 500 KV bipolar high voltage direct current interconnection, approximately 1,320 km long, and having a transmission capacity of 3,000 MW. This will lead to the interconnection of the two largest power grids in the Arab world with a total capacity exceeding 90 thousand MW, and will thus complete the interconnection between the Gulf Cooperation Council countries, the eight eastern Arab countries and the COMELEC countries.

Description:

The project, which is expected to be completed by the end of 2016, consists of constructing three 500 kV AC/DC conversion stations, aerial power lines and an undersea cable, the supply and installation of transformers, circuit breakers, measurement and control system and accessories, in addition to consultancy services and insurance. The project includes the following main components:

Part of the Project within 1. the Arab Republic of Egypt:

Conversiona. Station: This includes the construction of a 3,000 MW, 500 kV bipolar AC/DC conversion station and its accessories. This also includes the construction of a transition station from the undersea cable to the aerial line, and its accessories, on the west shore of the Gulf of Aqaba.

Aerial Power Lines:b. This includes the supply and installation of 500 kV bipolar DC aerial power lines, approximately 454 km long.

Consultancy Services:c. This includes technical and consultancy services to assist in bids evaluation, contract negotiations, project supervision, participation in factory tests and supervision of project commissioning.



Part of the Project within 2. the Kingdom of Saudi Arabia:

Conversion Station:a. This includes the construction of two 500 kV bipolar AC/DC conversion stations in East Medinah and Tabuk rated at 3,000 MW and 1,500 MW respectively, and their accessories. This also includes the construction of a station for the transition from the undersea cable to the aerial line, and its accessories, on the east shore of the Gulf of Aqaba.

Aerial Powerb. Lines: This includes the supply and installation of 500 kV bipolar DC aerial power lines, approximately 850 km long.

Consultancy Services: c. This includes technical and consultancy services for this part of the project.

Common Part of the Project 3. in the Gulf of Aqaba:

Undersea Cable:a. This includes the supply and installation of a 500 kV bipolar DC undersea cable, approximately 16 km long.

Consultancy Services:b. This includes technical and consultancy services to assist in bids evaluation, contract negotiations, project supervision, participation in factory tests and supervision of project commissioning.

Financing:

The Arab Fund’s loan covers about 25% of the total project cost. European financial institutions contribute to the project with a loan equivalent to about KD 78.6 million (about 44%), the World Bank with a loan equivalent to about KD 34.2 million (about 19%), and the African Development Bank with a loan equivalent to about KD 12.2 million (about 7%). The beneficiary and the Egyptian Government will cover the remaining cost of the project and any additional cost that may arise.



Arab Republic of EgyptAssiut Power Generating Station

(El-Walidia) 650 MW


Beneficiary: Upper Egypt Electricity Production Company Grace Period: 6 years


instalmentsDate of Loan Agreement: 24/03/2014 First



Objectives:

The project aims at satisfying the increasing demand for electric power and energy, by raising the installed power generation capacity of the Egyptian network by 650 MW. This will be accomplished by constructing a steam power generating station in the city of Assiut that runs on heavy fuel oil as the primary fuel.

Description:

The project, which is expected to be completed in the last quarter of 2018, comprises a 650 MW sub-critical steam generating unit consisting of a boiler, a turbine, a power generator, a condenser, and accessories. The project consists of the following main components:

Boiler and Accessories:1. This includes the design, supply and installation of a boiler and its accessories, in addition to the commissioning and supply of burner management systems, and other necessary works.

Steam Turbine, Power Generator, Condenser and Accessories:2. This includes the design, manufacture, supply and installation of a steam turbine, a power generator, a condenser and accessories.

Pumps and 3. Accessories: This includes the design, manufacture, and supply of main pumps, start-up pumps, condensate pumps and other pumps, in addition to the installation supervision, and commissioning.

Feed Water Heaters4. : This includes the design, manufacture, supply and installation of feed water heaters, and installation supervision and commissioning.

Water Treatment 5. and Environmental Pollution Monitoring: This includes the supply and installation of water treatment systems and environmental pollution monitoring equipment.



Transformers6. and Circuit Breakers: This includes the design and supply of the main 850 MVA power transformer, the interconnection transformer 500/220 kV and auxiliary transformers. This also includes the supply and installation of the switchyard.

Critical Pipes and Valves:7. This includes the manufacture and supply of critical pipes, valves, heat sensors, thermocouples, flow meters and accessories, and the installation supervision and commissioning.

Mechanical and Electrical Works:8. This includes the supply and installation of fire fighting systems, air compressors and other mechanical equipment, and critical pipes. The electrical works include the supply and installation of battery systems and distribution boards, in addition to the installation of transformers, medium voltage breakers, DCS and other electrical equipment.

Measurement and Control Systems:9. This includes the supply of measurement and control systems and accessories, and the installation supervision and commissioning.

Civil Works and Tanks10. Yard: This includes civil works, and construction of roads, buildings and tanks.

Consultancy Services and Insurance:11. This includes technical and consultancy services required for the project design and environmental impact study, preparation of tender documents, and other technical, advisory and supervisory services, in addition to project insurance.

Financing:

The Arab Fund’s loan covers about 29% of the total project cost. It is expected that the Saudi Fund for Development will contribute to the financing of the project with a loan equivalent to about KD 8.5 million (about 4%), the Kuwait Fund for Arab Economic Development with a loan of about KD 30 million (about 16%), the OPEC Fund for International Development with a loan equivalent to about KD 15.5 million (about 8%) and the Islamic Development Bank with a loan equivalent to about KD 62.8 million (about 32%). The beneficiary and the Egyptian Government will cover the remaining cost of the project and any additional cost that may arise.



Sultanate of OmanInfrastructure Facilities for Sumail Industrial Estate


Beneficiary: Public Establishment for Industrial Estates Grace Period: 4 years




Effectiveness:

Objectives:

The project aims at developing the industrial sector in the Sultanate of Oman in order to create new jobs, particulary for the youth. This will be achieved through the construction of a new industrial estate at Sumail area that includes all the infrastructure facilities needed to enable investors to build new industries.

Description:

The project, which is expected to be completed by the end of 2016, consists of the followingmain components:

Civil Works:1. These include construction of buildings, water reservoirs, water networks for drinking, industrial use and for fire fighting, wastewater networks and treatment plants, rainfall drainage canals, irrigation networks, main and secondary roads, parking areas and all other civil works needed for the project.

Technical Services:2. These include preparing studies, final detailed design, tender documents, and construction supervision. In addition, technical services include hiring of local and foreign experts.

Institutional Support:3. This includes procurement of equipment and tools needed to operate and maintain the different facilities, in addition to conducting training programs for the local staff, and carrying out a program to raise the awareness of industries on safety and environmental protection.

Financing:

The Arab Fund’s loan covers about 73% of the total project cost. The Public Establishment for Industrial Estates will cover the remaining cost of the project and any additional cost that may arise.



Sultanate of OmanHousing Program


Beneficiary: Oman Housing Bank (S.A.O.C) Grace Period: 4 years





Objectives:

The program aims at meeting the needs of qualified low and middle-income citizens for adequate housing, which will enable them to improve their living conditions and social situation. This will be accomplished through the provision of concessional loans to those citizens for the purchase or construction of housing units.

Description:

The program, which is expected to be completed during the second quarter of 2017, consists of the provision of concessional loans by the Oman Housing Bank to qualified low and middle-income citizens for the purchase or construction of housing units. The amount of each loan cannot exceed 90% of the value of the housing unit, or 60 thousand Omani Riyals, whichever is lower, and the loan repayment period cannot exceed 25 years.

Financing:

The Arab Fund’s loan covers about 80% of the total program cost. The Omani Government will cover the remaining cost of the program and any additional cost that may arise.



Republic of YemenInfrastructure Development in Sana’a City


Beneficiary: Municipality of Sana’a Grace Period: 6 years





Objectives:

The project aims at improving the efficiency of the main road network, minimizing traffic congestion, and protecting the population, buildings, shops and existing infrastructure from potential damage caused by the floods in different parts of the capital Sana’a. This will be accomplished through the construction of the necessary facilities for main road intersections and storm water drainage in the city of Sana’a.

Description:

The project, which is expected to be completed by the end of 2017, comprises two main parts, the first constitutes the fourth stage of the main road intersections while the second includes the works of flood protection in different parts of Sana’a. The project also includes the provision of technical services and institutional support. The project includes the following components:

Main Intersections 1. Works: This part includes all civil works required to construct bridges and tunnels at four intersections: 50th street with Shahran street, 60th street with Taiz street, 40th street with May 22nd street, and 60th street with Faj Attan street. It also includes the construction of a branch bridge at the intersection of 50th street with October 14th street, and three tunnels at the following intersections: 60th street with Al-Anab Valley street, 60th street with Al-Nahda street, and 60th street with Al-Rabat street, in addition to all necessary auxiliary works such as water drainage, electrical lighting, signals and traffic signs, as well as the extension and relocation of the utility networks affected by the works.

Flood Protection Works:2. This includes the extension of the main open channel for water drainage, known as Al-Saylah, located in the northern part of the city of Sana’a, with a length of about 9,500 m and a width ranging between 20 m and 24 m, and the



construction of about 24 pedestrian bridges and two vehicle bridges. It also includes the installation of a main sewer line of about 4,000 m in length with a 1.5 m diameter, the landscaping works (sidewalks, planting, lighting, traffic signs and signals), and all other necessary auxiliary works related to the main channel and its branches, in addition to all services related to these works.

Technical Services:3. This includes the technical services required for the preparation of technical studies, the review and update of the design and tender documents, the analysis of bids and the supervision of the project. It also includes the acquisition of machinery and equipment required for the operation and maintenance of the facilities, and the implementation of a training program for local staff working in the areas of roads, bridges and flood protection in Sana’a.

Financing:

The Arab Fund’s loan covers about 81% of the total project cost. The Yemeni Government will cover the remaining cost of the project and any additional cost that may arise.



Republic of TunisiaRegional and Rural Roads Network

(Phase III)


Beneficiary:Ministry of Equipment, Spatial Planning and Sustainable Development




Installment:



Objectives:

The project aims at improving land transportation in a number of Tunisian governorates, and linking agricultural production areas with markets and export facilities. This will be achieved through the construction and rehabilitation of a number of regional and rural roads. The Arab Fund has also financed the first two phases of the project.

Description:

The project, which is expected to be completed by the end of 2016, includes the construction and strengthening of several segments of the classified regional road network, and the construction and improvement of a large number of rural roads, in addition to technical services required for construction supervision and quality control. The project includes the following main components:

Development of the Regional Road Network:1. This includes the construction and strengthening of 7 segments distributed over 6 governorates. These segments have a total length of about 210 km, with an asphaltic width ranging between 7 m and 8 m, and shoulders on each side with a width ranging between 1.5 m and 2.75 m. It also includes water drainage structures and other ancillary works.

Construction of2. Rural Roads: This includes the construction and improvement of 117 rural roads, distributed over 22 governorates, with a total length of about 750 km, and overall width ranging between 8 m and 11 m. It also includes water drainage structures and other ancillary works.

Technical Services:3. This includes providing consultancy services to assist the Ministry in construction supervision and quality control of the works. It also includes the preparation of additional studies that may be required for the project execution, and any modifications of the project design.



Financing:

The Arab Fund’s loan covers about 74% of the total project cost. The Tunisian Government will cover the remaining cost of the project and any additional cost that may arise.



Republic of Lebanon

Housing Project


Beneficiary: Housing Bank Grace Period: 4 years




Effectiveness:

Objectives:

The project aims at contributing to the reduction in the severity of the housing crisis, and meeting the needs of low and middle-income citizens for adequate housing, which will enable them to improve their living conditions and social situation. This will be accomplished through the provision of concessional loans to those citizens for the purchase or construction of housing units.

Description:

The project, which is expected to be completed by the end of the second quarter of 2015,consists of the provision of concessional loans by the Housing Bank to low and middle- income citizens for the purchase or construction of housing units. The project includes the following main components:

Loans to Low-Income Citizens:1. This component includes the provision of loans by the Housing Bank to low-income citizens, that is those whose monthly family income does not exceed ten times the minimum monthly salary, for the purchase or construction of a housing unit. The amount of each loan cannot exceed 80% of the value of the housing unit, or 300 million Lebanese Pounds, whichever is lower, and the loan repayment period cannot exceed 20 years.

Loans to2. Middle-Income Citizens: This component includes the provision of loans by the Housing Bank to middle-income citizens, that is those whose monthly family income ranges between ten and fifteen times the minimum monthly salary, for the purchase or construction of a housing unit. The amount of each loan cannot exceed 80% of the value of the housing unit, or 450 million Lebanese Pounds, whichever is lower, and the loan repayment period cannot exceed 20 years.

Financing:

The Arab Fund’s loan covers about 80% of the total project cost. Beneficiaries from the housing loans will cover the remaining cost of the project and any additional cost that may arise.



Republic of Lebanon

Completion of Wastewater Facilities in Lebanon


Beneficiary:Council for Development and Reconstruction




Installment:


Effectiveness:

Objectives:

The project aims at meeting the increasing demand for wastewater services in the Abda – Akkar Basin, Central and Northern Bekaa and Echouf. The project also aims at controlling the arbitrary disposal of wastewater that flows from cesspits and open channels into streams, rivers and coastal waters, thus protecting sources of groundwater, surface water and beaches from pollution.

Description:

The project, which is expected to be completed by the end of 2018, includes the construction or completion of wastewater collection networks consisting of main, secondary, sub and side pipelines, as well as house connections and pumping stations which will serve to collect the wastewater from towns and villages within the project area and transfer it to the existing treatment plants or to the ones that will be constructed within this project to treat the wastewater before it is disposed of. The project also includes provision of the necessary consultancy services to update and complete studies on some sub projects, preparation of their engineering designs and tender documents, supervision of the project implementation, as well as preparation of any necessary additional studies required to fulfill the project’s objectives, and provision of institutional support to the Council. The project includes the following main components:

The Main Works (Networks and Stations):1.

Completion of the Sub Project in the Abda – Akkar Basin:a. The wastewater works required for the Abda – Akkar Basin were divided into three stages, that is, Coast 1, 2 and 3, which cover about 80 towns and villages. The sub project for this area is limited to the completion of the first stage (Coast 1) which will be partially financed through the Arab Fund’s loan No. 496/2006. This component consists of constructing the collection pipelines, the house connections and the main manholes, as well as diverting the primary treatment plant in Abda to the secondary treatment plant, and providing it with all the necessary equipment, with the possibility of expanding it in the future to meet the needs of the three stages.




Sub Project in Central and Northern Bekaab. : This sub project serves several towns and villages of Central and Northern Bekaa which lie along the Litani River in the area confined between the north of Zahleh and the south of Baalbek. This sub project consists of the collection network, the house connections and a secondary treatment plant.

Completion of the Sub Project in the Coast of Echoufc. : This sub project consists of completing the wastewater networks which have been partially executed, by extending the sub and side pipelines, constructing the necessary pumping stations and house connections in order to transport the wastewater from the towns and villages of this area to the treatment plant.

The d. Sub Project in El Arkoob: This sub project serves an area which comprises a number of towns, and consists of the construction of a wastewater network comprising of main, secondary, sub and side pipelines, pumping stations and house connections, as well as a number of wastewater treatment plants with all their equipment.

Consultancy Services and Institutional Support2. : This component consists of updating and completing studies on some sub projects, preparing their designs and tender documents, supervising the project implementation, as well as preparing any necessary additional studies required to fulfill the project’s objectives. This component also includes the use of experts to assist the project unit in managing the implementation, and institutional support to the Council.

Land Expropriation:3. This component includes the acquisition of land required for the execution of the project.

Financing:

The Arab Fund’s loan covers about 61% of the total project cost. The Lebanese Government will cover the remaining cost of the project and any additional cost that may arise.


Republic of Tunisia

Upper Mellegue Dam


Beneficiary: Ministry of Agriculture Grace Period: 6 years



Installment:


Effectiveness:

Objectives:

The project aims at improving the regulation of Wadi Mellegue water, one of the main tributaries of Wadi Medjerda, through the construction of the upper Mellegue dam and its appurtenant structures in El Kef province, in order to compensate for the decrease in the storage capacity of the existing Mellegue dam on Wadi Mellegue due to the accumulation of sediment in its reservoir. The dam will also contribute to the flood protection of the lands and buildings in both Wadi Mellegue and Wadi Medjerda basins, and to an increase in the quantities of regulated surface water resources in the northwestern region of Tunisia, through the storage of flood water which is currently wasted into the Mediterranean Sea. The water regulated through this project will allow for the intensification of agricultural production in the lands equipped for irrigation downstream of Upper Mellegue dam in the plains of Wadi Mellegue and Wadi Medjerda, and electricity generation from an associated small power station.

Description: The project, which is expected to be completed by the middle of the year 2020, consists of the construction of a dam on Wadi Mellegue and its appurtenant structures, which include a small hydroelectric power station, at a location approximately 16 km west of the city of El Kef, as well as the technical services necessary to implement the project. The project also includes the expropriation of land necessary to implement and operate the dam, in addition to project management. The project consists of the following main components:

Dam Construction:1. This includes the construction of a roller compacted concrete gravity dam and its appurtenant structures on Wadi Mellegue. The dam has a height of approximately 42 m above the Wadi bed (approximately 70 m above the foundation), a crest length of approximately 432 m and width of 7 m. It also includes a fill dyke with a height of approximately 4 m and a length of approximately 65 m to close



a depression in the right bank of the Wadi, and a roller compacted concrete dyke with a height of approximately 35 m and a length of approximately 260 m to close a depression in the left bank of the Wadi. The dam’s appurtenant structures includes a main spillway above the dam with a discharge capacity of 8,600 m3/s, a secondary spillway in the right bank of the Wadi with a discharge capacity of 6,100 m3/s, a small hydroelectric power station with installed capacity of approximately 2 MW, in addition to a water intake and a bottom outlet. The dam impounds a reservoir with a storage capacity of approximately 195 million m3. This component also includes all the preparatory, civil, hydro mechanical and electrical works necessary to construct the dam and its appurtenant structures.

Technical 2. Services: This includes consultancy services necessary to review and complete the studies and designs, and the construction supervision of the project. It also includes, when required, the services of international experts to review the studies and designs, and provide technical advice during the implementation of the project.

Land Expropriation:3. This includes the land acquisition and compensation for properties required for the construction of the dam.

Project Management:4. This includes the establishment and management of the project management unit which will be responsible for the follow up and monitoring of the construction works.

Financing:

The Arab Fund’s loan covers about 74% of the total project cost. The Tunisian Government will cover the remaining cost of the project and any additional cost that may arise.



The Islamic Republic of MauritaniaConstruction of a Solar Power Station in Nouakchott

and the Modernization of the Electrical System

Loan No.: 610 Interest Rate: 2.5 %

Beneficiary: SOMELEC Grace Period: 7 years



Installment:

7 years following the first disbursement Date of

Effectiveness:

Objectives:

The project aims at meeting the increasing demand for power and energy in the city of Nouakchott and its suburbs without using fossil fuel, controlling the electrical grid, and supplying small towns and villages in eastern Mauritania with electricity.

Description: The project, which is expected to be completed in the first quarter of 2017, includes the construction of a solar power generating station, a control center to supervise the operation of the electrical generation, transmission and distribution systems, a generation and distribution system for the eastern areas of Mauritania, and the provision of necessary consultancy services and institutional support. The project includes the following main components:

Solar Power Generating Station in Nouakchott1. : This includes the construction of a 30 MW solar power generating station east of Nouakchott, and its connection to the transmission network. The works include the supply and installation of solar panels, collectors of DC current, current inverters, step up transformers, circuit breakers and cables inside the station, the construction of a 33 kV line to connect the solar station to the eastern substation, along with the necessary civil works.

Network Control Center:2. This includes the construction of a center to control the existing and future power generating stations, the entire 225 kV and 33 kV transmission network, and a small portion of the 15 kV distribution network, in the city of Nouakchott.

Generation and Distribution System for 3. the Eastern Areas: This includes the supply and installation of two hybrid power generating stations in the cities of Al-



Ne’ma and Adel-Bagrou, each made up of a thermal section and a solar section, and the construction of a 33 kV, 15 kV and 0.4 kV distribution system to supply small towns and villages located in five governorates in the eastern areas of Mauritania.

Consultancy Services:4. This includes providing consultancy services necessary to assist SOMELEC in the preparation of tender documents, contractual procedures, review of design drawings, project supervision, equipment witness testing and project acceptance.

Institutional Support5. : This includes training of SOMELEC employees, conducting studies, the acquisition, delivery and installation of computers, systems and printers, along with the acquisition of fault-finding equipment.

Financing:

The Arab Fund’s loan covers about 63% of the total project cost. It is expected that the OPEC Fund for International Development will contribute to the financing of the project with a loan for an amount equivalent to about KD 2.8 million (around 6%). The Mauritanian Government will cover the remaining cost of the project and any additional cost that may arise.



Kingdom of MoroccoIrrigation of the Chtouka Aït Baha

Region with Desalinated Water


Beneficiary: Ministry of Agriculture and Fishery Grace Period: 5 years



Installment:



Objectives:

The project aims at achieving the sustainable and safe use of the Chtouka underground water basin, preventing its depletion, preserving the irrigation facilities and agricultural equipment in the Chtouka Aït Baha region, and increasing the production of vegetables with high value added, through the desalination and distribution of sea water. The project will contribute to the development of agricultural exports, the protection of the environment, and the provision of new employment opportunities.

Description:

The project, which is expected to be completed by the end of the third quarter of 2019, includes the construction of a water desalination plant on the Atlantic Ocean, and a conveyance and distribution network of the desalinated water to the green houses in the Chtouka Aït Baha region. The project consists of the construction of a desalination plant, reservoirs, pumping stations, and the laying of pipelines, in addition to the supply of the desalination plant and pumping stations with electricity. The project also includes provision of the necessary technical services to prepare the studies and designs, assistance with tender documents and bid analysis, and construction supervision, as well as institutional support to the beneficiary and implementing agencies. The project consists of the following main components:

Desalination Plant and Facilities for 1. the Transport and Distribution of Irrigation Water:

Desalination Plant:a. This includes the construction of a desalination plant with a daily capacity of about 110 thousand m3. The plant includes two water intakes, two pipelines with a length of about 1,500 m and a diameter of about 1,600 mm



each, a storage reservoir, and a pumping station with a capacity of about 1.6 m3 per second and a head of 125 m. It also includes all equipment for the reverse osmosis desalination plant, a reservoir for the desalinated water with a capacity of about 25 thousand m3, and a pipeline for the disposal of the brines into the sea with a length of about 3,600 m and a diameter of about 1,800 mm.

Facilities for the Transport and Distributionb. of Irrigation Water: This includes the construction of three stations to pump the desalinated water, with capacities ranging between about 1.0 and 2.4 m3 per second and a head ranging between about 112 and 125 m, and the laying of pipelines to transport and distribute the desalinated water, with a total length of about 305 km and diameters ranging between 160 and 1,100 mm.

Supply of Electricity:2. This includes the construction of 60 kV electric transmission lines with a total length of about 107 km, to supply the desalination plant and the pumping stations with electricity.

Technical Services:3. These include the provision of consultancy services for preparation of the project studies and assistance with tender documents and bid analysis, the construction supervision, as well as the preparation of any studies required to achieve the objectives of the project.

Institutional Support:4. This includes the acquisition of some necessary equipment to manage the project implementation, the training of employees of the beneficiary and implementing agencies, as well as the provision of guidance and awareness services to the farmers for their contribution to the financing of the project and the achievement of its objectives.

Financing:

The Arab Fund’s loan covers about 58% of the total project cost. It is expected that the farmers and a qualified private sector partner, who will construct and operate the project facilities, will contribute to the financing of the project for a total amount of about KD 9.6 million (about 11%). The Moroccan Government will cover the remaining cost of the project and any additional cost that may arise.



Republic of Yemen

Al Ghaydah Central Hospital


Beneficiary: Ministry of Public Health and Population Grace Period: 5 years



Installment:


Effectiveness:

Objectives:

The project aims at improving health services in the governorate of Mahara, providing modern medical equipment, and supporting the training of local staff.

Description:

The project, which is expected to be completed by the end of 2017, includes the construction of a public hospital with a capacity of 130 beds in the city of Al Ghaydah, and housing for hospital employees. The project consists of the following main components:

Construction and Equipment1. : Buildingsa. for health services and housing of employees. Infrastructureb. works, including roads, parking lots, electricity, communication networks, water and wastewater networks, waste treatment, and all other auxiliary works.Equipmentc. , both medical and non-medical, and furniture.

Technical Services:2. These include the consultancy services needed to supervise the construction of the project, the use of expert services to help the project implementation unit, the training of local staff, and institutional support needed for the project management and operation.

Financing:

The Arab Fund’s loan covers about 40% of the total project cost. The Sultanate of Oman will provide a grant in an amount equivalent to about KD 7 million (around 46%). The Yemeni Government will cover the remaining cost of the project and any additional cost that may arise.



Capital, Resources and Status of Loans and Grants 1972 - 2014

(KD Million)

Years Capital Total Resources Income Administrative

ExpensesSurplus Income Signed Loans

1972 15.4 16.0 0.6 0.1 0.5 -

1973 21.7 22.7 1.0 0.6 0.4 -

1974 36.0 38.7 2.9 0.8 2.1 37.11975 52.0 57.4 3.7 0.9 2.8 56.11976 99.6 108.5 5.9 1.5 4.4 98.21977 131.9 145.7 10.3 2.1 8.2 103.91978 164.9 186.2 11.3 2.2 9.1 -

1979 202.7 225.8 14.7 2.0 12.7 19.41980 260.7 313.2 22.1 2.2 19.9 30.21981 317.5 393.3 26.8 2.1 24.7 40.51982 374.2 482.9 36.7 2.4 34.3 67.31983 450.1 598.4 40.2 3.2 37.0 91.11984 520.5 680.4 40.2 2.9 37.3 85.61985 581.1 797.4 61.0 3.2 57.8 53.21986 642.2 960.5 113.8 3.2 110.6 104.51987 644.2 1,009.3 53.9 3.2 50.7 65.41988 644.3 1,062.0 80.0 2.9 77.1 112.91989 663.0 1,176.2 103.7 3.0 100.7 165.81990 663.0 1,236.7 68.9 3.2 65.7 195.01991 663.0 1,245.2 74.4 3.7 64.9 171.41992 663.0 1,344.4 116.7 3.2 104.7 175.71993 663.0 1,424.9 99.5 3.1 85.0 184.51994 663.0 1,421.5 2.8 3.3 - 0.4 194.41995 663.0 1,495.3 117.2 3.4 80.6 207.51996 663.0 1,584.8 98.5 4.0 94.4 266.41997 663.0 1,675.0 105.4 4.1 96.1 244.11998 663.0 1,747.8 83.8 4.7 77.9 258.01999 663.0 1,828.7 95.3 4.7 86.6 266.02000 663.0 1,933.2 81.4 4.7 76.7 279.52001 663.0 1,983.9 53.6 4.9 48.7 285.02002 663.0 2,054.4 34.2 4.9 78.6 293.52003 663.0 2,169.8 129.2 4.9 122.4 308.52004 663.0 2,266.0 119.3 5.2 113.2 309.02005 663.0 2,354.5 108.4 5.9 102.6 335.02006 663.0 2,451.1 126.5 6.6 119.6 345.02007 663.0 2,535.0 117.3 6.0 111.2 368.02008 2,000.0 2,513.4 6.0 6.7 - 0.9 366.82009 2,000.0 2,617.5 123.2 7.3 115.8 334.12010 2,000.0 2,669.7 95.4 6.9 89.3 360.52011 2,000.0 2,717.2 76.2 7.4 68.8 340.02012 2,000.0 2,808.6 112.0 8.4 103.6 379.02013 2,500.0 2,824.8 87.1 8.1 33.5 388.02014 2,554.9 3,051.8 92.8 8.3 84.4 412.5Total - - 2,853.9 172.2 2,613.3 8,398.7

ANNEx 2PAGE 1 OF 2


Capital, Resources and Status of Loans and Grants 1972 - 2014

(KD Million)

No. of Loans*

Average Amount of Loan*

Loan Disbursements Repayments Grants Grant

Disbursements

No. of Member States

No. of BeneficiaryCountries

No. of Technical

Staff

- - - - - - 17 - -

- - - - - - 17 - 188 4.6 1.8 - 0.2 0.1 17 7 26

11 5.1 11.7 - 0.5 0.1 20 8 3014 7.0 18.3 - 0.4 0.2 21 10 4315 6.9 24.7 - 1.0 0.6 21 11 56 - - 61.8 0.2 0.4 0.3 21 - 484 4.9 37.0 2.1 0.3 0.2 21 6 309 3.4 25.5 3.4 0.7 0.2 21 8 32

13 3.1 36.1 6.0 1.3 0.2 22 11 2926 2.6 26.8 9.5 1.3 0.7 22 9 2129 3.1 30.2 11.9 1.5 0.6 22 12 3221 4.1 29.9 10.8 1.3 0.7 22 11 3717 3.1 44.5 12.6 1.4 1.2 22 11 4420 5.2 57.3 26.2 3.3 1.0 22 10 5011 5.9 48.4 25.5 3.8 2.2 22 7 5020 5.6 45.5 26.0 5.1 2.7 22 9 5015 11.1 84.0 31.1 3.8 4.8 22 8 5018 10.8 40.6 26.8 4.7 3.4 21 8 5211 15.6 85.7 46.6 3.3 4.2 21 8 4513 13.5 103.1 44.7 3.4 3.2 21 8 4612 15.4 116.5 40.5 5.9 3.2 21 6 4316 12.2 115.7 40.1 3.5 4.1 21 9 4512 17.3 174.8 42.4 5.8 3.9 21 7 4618 14.8 212.7 46.9 2.9 3.5 21 9 6122 11.1 178.5 50.0 4.9 3.0 21 9 6618 14.3 165.6 53.1 3.9 3.9 21 10 6515 17.7 173.2 51.9 6.3 4.5 21 12 6815 18.6 228.8 119.5 13.0 5.8 21 10 6915 19.0 182.8 93.9 5.0 5.2 21 11 6915 19.6 161.2 90.6 4.1 4.5 21 10 7116 19.3 199.7 122.5 7.0 5.9 21 10 6818 17.2 250.3 101.0 5.1 6.1 21 9 6719 17.6 282.2 155.1 4.5 6.2 21 11 6918 19.2 281.5 306.3 13.9 7.8 21 9 6816 23.0 274.5 136.5 11.3 6.5 21 8 6716 22.9 284.7 129.5 10.5 6.9 21 6 6818 18.6 249.3 186.9 7.5 8.0 21 8 6914 25.7 291.7 167.2 9.6 7.0 21 8 6912 28.3 233.0 157.3 13.4 6.5 21 6 6513 29.2 235.0 165.3 7.5 8.4 21 9 6618 21.6 251.5 158.4 7.4 10.1 21 8 6715 27.5 257.8 159.1 13.1 8.0 22 8 71

626 13.4 5,614.4 2,857.4 203.9 155.0 - - -

* Based on the date of signature of the loan agreement.

ANNEx 2PAGE 2 OF 2


Growth in Arab Fund ResourcesDuring the Period 1972 - 2014

(KD Million)

ReservesCapital

0

500

1000

1500

2000

2500

3000

3500

197

2

197

5

198

0

198

5

199

0

199

5

200

0

200

5

201

0

201

4


Gro

wth

in A

rab

Fund

Res

ourc

esD

urin

g th

e P

erio

d 19

72 -

201

4(K

D M

illio

n)

Res

erve

sC

apita

l

0

500

1000

1500

2000

2500

3000

3500

1972

1975

1980

1985

1990

1995

2000

2005

2010

2014


Cumulative Loans, Disbursements, Repaymentsand Debt Owed to the Arab Fund During the Period

1974-2014(KD Million)

Loans, Disbursements, Repayments and Debt Owed to the Arab Fund During the Period 1974-2014

(KD Million)

0

1000

2000

3000

4000

5000

6000

7000

8000

9000

1974 1980 1985 1990 1995 2000 2005 2010 2014

xxxxxxxxxxxxxxxx

xxxxxxxxxxxxxx

xxxxxxxxxxxxxx xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

xxxxxxxxxxxxxxxxxxx

xxxxxxx Debt Owed to the Arab FundRepaymentsDisbursementsLoans

Mill

ion

KD

0

200

400

600

800

1000

1200

1400

1600

1800

2000

1974 - 1979 1980 - 1984 1985 - 1989 1990 - 1994 1995 - 1999 2000 - 2004 2005 - 2009 2010 - 2014

Debt Owed to the Arab FundRepaymentsDisbursementsLoans

Mill

ion

KD


Summary of Loans Extended to Member States 1974 - 2014

(KD Million)

Beneficiary States

No. of Loans Amount of LoansEffective

Loans andDisbursements

% D

isbu

rsem

ents

to E

ffect

ive

Loan

s

App

rove

d

Net

App

rove

d

Can

celle

d

Net

% N

et L

oans

Effe

ctiv

eLo

ans

Disb

urse

men

ts

1 Hashemite Kingdom of Jordan 45 44 537.6 43.0 494.6 6.5 494.6 486.9 98.4

2 Republic of Tunisia 53 53 765.8 47.3 718.5 9.4 688.5 522.0 75.8

3 Algerian Democratic and People’s Republic

26 25 395.3 112.5 282.8 3.7 282.8 282.8 100.0

4 Republic of Sudan 40 39 724.8 13.0 711.8 9.3 651.8 462.1 70.9

5 Republic of Iraq 10 9 59.7 10.6 49.1 0.6 36.4 19.6 53.7

6 Syrian Arab Republic 51 50 697.0 39.5 657.5 8.6 597.5 467.1 78.2

7 State of Libya 9 8 175.7 33.2 142.5 1.9 142.5 132.9 93.2

8 Arab Republic of Egypt 55 54 1,225.7 89.6 1,136.1 14.9 1,136.1 862.0 75.9

9 Republic of Yemen 103 101 887.9 20.6 867.3 11.4 849.0 534.7 63.0

10 Republic of Lebanon 27 26 457.0 36.3 420.7 5.5 321.7 239.5 74.4

11 Kingdom of Morocco 68 67 1,197.9 121.5 1,076.4 14.1 1,026.4 841.9 78.2

12 Kingdom of Bahrain 20 19 301.5 33.3 268.2 3.5 268.2 204.7 76.3

13 Somali Democratic Republic 12 11 40.7 2.8 37.9 0.5 37.9 23.8 62.8

14 Islamic Republic of Mauritania 54 54 460.7 4.7 456.0 6.0 426.0 312.9 73.5

15 Sultanate of Oman 26 25 371.5 164.5 207.0 2.7 193.0 158.0 81.9

16 Palestine 5 5 17.0 2.5 14.5 0.2 14.5 14.4 98.8

17 Republic of Djibouti 22 20 83.0 4.7 78.3 1.0 77.3 48.9 63.3

Total 626 610 8,398.7 779.4 7,619.3 100.0 7,294.4 5,614.4 77.0

ANNEx 3


Sectoral Distribution of Loans Among Beneficiary Member States, 1974 - 2014

(KD Million)

Beneficiary States

Infrastructure Sectors Productive Sectors

Soci

al S

ervi

ces

Sect

ors*

Oth

er S

ecto

rs**

Gra

nd T

otal

Perc

enta

ge

Tran

spor

t

Telec

ommu

nicati

ons

Ener

gy a

nd

Elec

tric

ity

Wat

er a

nd

Sew

erag

e

Agr

icul

ture

an

d R

ural

D

evel

opm

ent

Indu

stry

and

M

inin

g

1 Hashemite Kingdom of Jordan 36.6 6.0 283.9 8.8 121.4 22.5 58.0 0.5 537.7 6.4

2 Republic of Tunisia 249.8 4.7 130.8 59.9 216.0 59.0 25.0 20.6 765.8 9.1

3 Algerian Democratic and People’s Republic 45.0 7.8 147.0 30.0 77.3 10.0 70.0 8.2 395.3 4.7

4 Republic of Sudan 198.6 7.7 229.5 29.3 195.5 64.2 - - 724.8 8.6

5 Republic of Iraq - 5.0 8.5 - 8.0 18.8 - 19.4 59.7 0.7

6 Syrian Arab Republic 69.0 60.7 368.0 47.5 86.1 52.1 13.0 0.6 697.0 8.3

7 State of Libya - 12.5 127.2 - - 36.0 - - 175.7 2.1

8 Arab Republic of Egypt 132.0 - 755.4 101.0 - 121.9 83.4 32.0 1,225.7 14.6

9 Republic of Yemen 296.9 8.9 208.9 112.6 63.3 35.3 116.1 46.0 887.9 10.6

10 Republic of Lebanon 89.0 - 115.5 82.0 31.0 - 105.5 34.0 457.0 5.4

11 Kingdom of Morocco 561.0 4.0 85.5 107.3 397.5 9.0 33.0 0.6 1,197.9 14.3

12 Kingdom of Bahrain 50.5 6.0 84.0 66.0 - 25.0 70.0 - 301.5 3.6

13 Somali Democratic Republic 16.5 2.9 6.8 5.0 9.5 - - - 40.7 0.5

14 Islamic Republic of Mauritania 88.8 11.1 155.8 155.9 10.3 19.3 4.5 15.0 460.7 5.5

15 Sultanate of Oman 178.5 3.0 22.0 45.0 3.0 6.0 40.0 74.0 371.5 4.4

16 Palestine 5.0 - - - 6.0 - 6.0 - 17.0 0.2

17 Republic of Djibouti 14.5 5.9 22.0 17.0 1.9 0.7 21.0 - 83.0 1.0

Total 2,031.7 146.2 2,750.8 867.3 1,226.8 479.7 645.5 250.8 8,398.7 100.0Percentage 24.2 1.7 32.8 10.3 14.6 5.7 7.7 3.0 100.0

ANNEx 4

* Include Education, Health, Housing and Social Development.* * Include Loan Commitments for Emergency Projects.


0

200

400

600

800

1000

1200

1400

OthersSocial ServicesIndustry & MiningAgriculture & Rural DevelopmentWater & SewerageTransport Telecommunications Energy & Electric Power

Jordan Tunisia Algeria Sudan Iraq Syria Libya Egypt Yemen Lebanon Morocco Bahrain Somalia Mauritania Oman Palestine Djibouti

Sectoral Distribution of LoansAmong Beneficiary Countries, 1974 - 2014

(KD Million)


0

200

400

600

800

1000

1200

1400

Oth

ers

Soci

al S

ervi

ces

Ind

ustr

y &

Min

ing

Ag

ricu

ltur

e &

Rur

al D

evel

opm

ent

Wat

er &

Sew

erag

eTr

ansp

ort

Tele

com

mun

icat

ion

sEn

erg

y &

Ele

ctri

c Po

wer

Jord

anTu

nisi

aAl

geria

Suda

nIra

qSy

riaLi

bya

Egyp

tYe

men

Leba

non

Mor

occo

Bahr

ain

Som

alia

Mau

ritan

iaO

man

Pale

stin

eD

jibou

ti

Sect

oral

Dis

trib

utio

n of

Loa

nsA

mon

g B

enefi

ciar

y C

ount

ries

, 197

4 -

2014

(KD

Mill

ion)


Loans Extended to Beneficiary Member States 1974 - 2014

(KD 000)

No. Country / Project LoanNo.

Amountof Loan

Cancelled Loans and Balances

Disbursements During 2014

Disbursements as at

31/12/2014

Repayments as at

31/12/2014

(1) Hashemite Kingdom of Jordan1 Amman Northern Approach* 14/75 5,000 69 - 4,931 4,931 2 Electric Power Development I* 19/76 6,000 - - 6,000 6,000 3 Electric Power Development II* 43/77 5,900 - - 5,900 5,900 4 Aqaba Water* 47/79 2,100 129 - 1,971 1,971 5 Second Pan-Arab Telecommunications* 58/80 5,000 4,433 - 567 567 6 White Cement Industry (Jordan and Syria)* 78/82 5,000 - - 5,000 5,000 7 Potable Water to the Rural Areas* 82/82 700 - - 700 700

8 Electric Power Development III (Aqaba Power Station)*

92/82 5,000 - - 5,000 5,000

9 Fifth Pan-Arab Telecommunications (Inter-Arab)/(Earth Stations)*

96/82 1,000 - - 1,000 1,000

10 Small Farmers Credit in the Jordan Valley* 108/83 2,500 - - 2,500 2,500 11 Zarqa-Al Mafraq-Syrian Border Road* 118/83 4,000 - - 4,000 4,000 12 Central Ghors Irrigation* 145/84 6,000 82 - 5,918 5,918 13 Mitigation of Earthquake Risks* 148/84 450 182 - 268 268 14 The Lower Zarqa River Basin* 165/85 5,000 - - 5,000 5,000 15 Zara-Ghor Haditha Road* 175/86 5,600 27 - 5,573 5,573

16 Ruwaishid Pilot Scheme in Hammad Basin (Inter-Arab)*

184/86 1,500 4 - 1,496 1,496

17 Extension of Aqaba Thermal Power Station** 192/87 7,000 7,000 - - - 18 Shaidiya Phosphate Mines* 224/89 8,000 700 - 7,300 7,300 19 Jordan-Egypt Power Link* 233/89 10,500 - - 10,500 10,500

20 Supporting Operations of Jordan Electricity Authority and the Jordan Phosphate Mines Co.*

239/90 8,000 - - 8,000 8,000

21 Industrial Development Bank Operations Program, 1990 - 1993*

252/90 5,000 17 - 4,983 4,983

22 Karameh Dam* 277/93 15,000 1,104 - 13,896 12,660

23 Second Agricultural Credit for Income Diversification*

283/93 2,500 - - 2,500 2,025

24 King Abdallah Teaching Hospital* 285/93 10,000 399 - 9,601 8,449

25 Aqaba Power Station Phase II and Reinforcement of Internal Transmission Lines*

301/94 35,000 - - 35,000 28,000

26 Interconnection of Jordan and Syria Power Grids (Jordan)*

311/95 19,500 - - 19,500 14,875

27 Aqaba Thermal Power Station (Phase III)* 320/95 26,000 - - 26,000 19,980 28 Hwarat-Abu Zeighan Irrigation Water Pipeline* 333/96 1,900 595 - 1,305 999 29 Infrastructure Development in the Poor Areas* 358/97 6,000 446 - 5,554 3,079 30 Integrated Development in the Southern Ghors* 359/97 34,000 11,395 - 22,605 14,701

31 Integrated Development in the Southern Ghors (Phase II - Mujib Dam)*

365/98 12,000 356 - 11,644 7,094

ANNEx 5PAGE 1 OF 21

* Completed Project. ** Fully Cancelled Loan.



Amountof Loan



Disbursements as at

31/12/2014

Repayments as at

31/12/2014

(1) Hashemite Kingdom of Jordan32 King Abdallah Teaching Hospital (Second Loan)* 371/98 15,000 29 - 14,971 9,511 33 Prince Hamza Hospital* 386/99 23,000 9,348 - 13,652 7,532 34 Al-Wehdah Dam* 394/2000 35,000 6,082 - 28,918 11,068 35 Education Reform - School Buildings* 444/2003 10,000 318 - 9,682 3,442 36 Amman Development Corridor (Section I)* 455/2003 12,000 1 - 11,999 1,119 37 Al-Samra Power Generating Station* 462/2004 21,000 - - 21,000 6,000 38 Amman Development Corridor - Phase I (Second Loan)* 499/2006 10,000 - - 10,000 -39 Al-Samra Power Generating Station (Phase II)* 515/2007 20,000 - - 20,000 2,850

40 Comprehensive Development of Wadi Araba Region (Phase l)

522/2007 6,000 - 373 4,929 510

41 Al-Samra Electric Power Generating Station (Phase lII)* 524/2007 30,000 - - 30,000 1,720

42 Al-Samra Electric Power Generating Station (Financing Phase IV and Additional Financing for Phase III)*

542/2009 30,000 - - 30,000 810

43 Sanam Coated Glass Factory (P)* 12P/2010 4,500 323 - 4,177 418 44 Al-Samra Electric Power Generating Station (Phase V)* 567/2011 30,000 - 11,690 25,738 -45 Al-Samra Electric Power Generating Station (Phase VI)* 587/2012 30,000 - 1,341 27,632 - Subtotal 537,650 43,039 13,404 486,910 243,449

(2) Republic of Tunisia

1 Tunis Sud Electric Power* 3/74 2,000 1 - 1,999 1,999

2 El-Borma Gas* 15/75 4,000 4 - 3,996 3,996

3 Development Credit* 34/77 7,000 - - 7,000 7,000

4 Water Supply for Industry in Gabes* 50/79 3,300 1,018 - 2,282 2,282

5 Ghardima Plain Irrigation* 57/80 3,500 478 - 3,022 3,022

6 Bizerte Fisheries Port* 64/81 3,800 649 - 3,151 3,151

7 Fourth Pan-Arab Telecommunications* 72/81 3,700 - - 3,700 3,700

8 Potable Water to Rural Areas* 83/82 600 88 - 512 512

9 Wadi Lubna for Irrigation and Agricultural Development* 91/82 3,500 1,628 - 1,872 1,872

10 Fifth Pan-Arab Telecommunications (Earth Stations)* 101/82 1,000 3 - 997 997

11 Water Supply for the Central and Southern Coastal Areas*

115/83 4,000 1,489 - 2,511 2,511

12 Mornag Agriculture* 123/83 1,500 133 - 1,367 1,367

13 Burj Tomi, Mater and Sajnan Irrigation* 144/84 6,000 2,700 - 3,300 3,300

14 Mitigation of Earthquake Risks* 149/84 575 48 - 527 527

15 Integrated Rural Development (Phase I)* 166/85 14,000 - - 14,000 14,000

16 Northern Roads Development* 190/87 7,000 - - 7,000 7,00017 Monastir Fishery Port* 195/87 1,300 72 - 1,228 1,22818 Al-Qairawan Plain Irrigation* 207/88 5,500 2,079 - 3,421 3,421

19 Tunis Municipality Road Rehabilitation* 213/88 2,700 - - 2,700 2,700


(KD 000)

ANNEx 5PAGE 2 OF 21

(P): Private Sector Project.* Completed Project.



(KD 000)


Amountof Loan



Disbursements as at

31/12/2014

Repayments as at

31/12/2014

(2) Republic of Tunisia

20 Rehabilitation and Maintenance of the Phosphoric Acid and Fertilizers Company’s Factories* 228/89 16,000 - - 16,000 16,000

21 Hammamat-Masaken Motorway* 242/90 20,000 - - 20,000 20,00022 Tunisia-Libya Power Link* 243/90 17,800 - - 17,800 10,80023 Maintenance of Flood-damaged Roads* 253/90 5,000 1,049 - 3,951 3,951

24 Sidi El-Barraq Dam Project for Potable Water and Irrigation* 273/92 20,000 3,217 - 16,783 14,783

25 Integrated Rural Development (Phase II)* 293/94 21,000 372 - 20,628 17,55326 Roads Development* 296/94 10,000 - - 10,000 8,26527 University Buildings in Gafsa* 321/96 10,000 2,119 - 7,881 5,76128 Al-Wakael Project (Phase III)* 328/96 5,000 254 - 4,746 3,549

29 Zarqa Dam and the Irrigation of Tbarqa and Mekna Plains* 338/96 13,000 3,830 - 9,170 6,115

30 Hima, Abeed, Rumail and Al-Bark Dams for Irrigation* 348/97 22,000 6,497 - 15,503 10,368

31 Supporting the Vocational Training and Employment Programs* 361/97 11,000 134 - 10,866 6,576

32 Improvement of the Roads Network and Rural Roads* Development* 374/98 35,000 30 - 34,970 19,970

33 Tunis - Bizerte Motorway* 382/99 24,000 4,877 - 19,123 10,32334 El-Kebir and El-Maoula Dams* 391/99 28,000 4,525 - 23,475 9,40535 Development of the Industrial Parks* 402/2000 14,000 4,776 - 9,224 5,27236 Tunis - Mejez El-Bab Motorway* 405/2000 25,000 1,885 - 23,115 10,86037 Developmental Credit Lines* 413/2001 11,000 2,000 - 9,000 4,446

38 Construction of Six Dams in the North to Supply Potable Water 428/2002 32,000 - 715 24,791 8,730

39 Modernization of the Transmission Network* 443/2003 30,000 - - 30,000 10,320

40 Sarrat Dam and Irrigation of Oulad Bou Ghanem and Mahjouba Plains 459/2004 12,000 - 1,253 5,406 1,080

41 Al-Wakael Project (Phase IV) 464/2004 4,000 - 476 2,164 85442 Regional and Rural Roads Network* 483/2005 16,000 125 - 15,875 2,70943 Wadi Al-Kabir Dam in Gafsa Province 490/2006 3,000 - 303 608 170

44 Ghannouch Combined Cycle Power Generating Station 494/2006 25,000 - - 24,938 2,130

45 Regional and Rural Roads Network (Phase II)* 518/2007 22,000 1,226 212 20,774 2,484

46 Ghannouch Combined Cycle Power Generating Station (Supplementary Loan)* 543/2009 15,000 - - 15,000 1,290

47 Sousse Power Generating Station (Second Expansion) 553/2010 37,000 - 2,217 25,754 -

48 Oued Zarga - Bousalem Motorway 561/2011 38,000 - 4,070 7,234 -

49 Urgent Program to Support Small Private Sector Projects 573/2011 15,000 - - 5,000 -

50 Integrated Development Program 574/2011 42,000 - 3,000 7,673 - 51 Mdhila 2 Triple Super Phosphate Fertilizer Production 592/2013 22,000 - - - - 52 Regional and Rural Roads Network (Phase III) 608/2014 40,000 - - - - 53 Upper Mellegue Dam 609/2014 30,000 - - - - Subtotal 765,775 47,305 12,246 522,040 278,350

ANNEx 5PAGE 3 OF 21

* Completed Project.



Amountof Loan



Disbursements as at

31/12/2014

Repayments as at

31/12/2014

(3) Algerian Democratic and People’s Republic1 New Arzew Port* 5/74 6,000 1,563 - 4,437 4,437

2 Telecommunications* 10A/75 300 52 - 248 248

3 Jijel Port* 42/77 12,000 6,760 - 5,240 5,240

4 Navigation Inspection Unit* 55/80 2,000 70 - 1,930 1,930

5 Fourth Pan-Arab Telecommunications* 71/81 4,500 153 - 4,347 4,347

6 Two Hospitals in Tihart State* 94/82 5,000 1,624 - 3,376 3,376

7 Fifth Pan-Arab Telecommunications (Earth Stations)*

102/82 1,000 - - 1,000 1,000

8 The Mitigation of Earthquake Risks(First Loan)*

117/83 4,700 3,704 - 996 996

9 Agricultural Credit* 140/84 6,000 - - 6,000 6,000

10 Wadi Mina Irrigation* 167/85 6,500 1,364 - 5,136 5,136

11 Sharfa Dam* 183/86 10,800 2,042 - 8,758 8,758

12 Bani Haroun Dam for Municipal Water, Electricity and Irrigation (First Loan)*

210/88 17,000 127 - 16,873 16,873

13 South Power Supply: Adrar Power Station* 261/91 21,000 1,028 - 19,972 19,972

14 Bashar-National Grid Power Link* 280/93 16,000 2,235 - 13,765 13,765

15 Bani Haroun Dam for Municipal Water, Electricity and Irrigation (Supplementary Loan)*

298/94 6,000 - - 6,000 6,000

16 Power Generating Station in Hassi Massoud* 324/96 40,000 57 - 39,943 39,943

17 The Mitigation of Earthquake Risks (Second Loan)*

332/96 3,500 1,887 - 1,613 1,613

18 Development of Small and Medium Industries* 339/97 10,000 1,012 - 8,988 8,988

19 Power Generating Station in Hassi Massoud (Supplementary Loan)*

353/97 10,000 47 - 9,953 9,953

20 Al-Hama Power Generation Station* 377/98 30,000 1,476 - 28,524 28,524

21 Upgrading of the Electric Grid* 387/99 30,000 - - 30,000 30,000

22 Development of Social Housing in the Central Region*

396/2000 35,000 12,190 - 22,810 22,810

23 Pumping and Conveyance of Bani Haroun Water (First Stage)*

415/2001 31,000 3,902 - 27,098 27,098

24 Conveyance of Bani Haroun Water (Conveyor to Othmania Dam)*

424/2002 30,000 21,597 - 8,403 8,403

25 Afroun- Husseinia Motorway* 426/2002 27,000 19,599 - 7,401 7,401

26 Housing Construction and Reconstruction**

450/2003 30,000 30,000 - - -

Subtotal 395,300 112,487 - 282,813 282,813 (4) Republic of Sudan

1 Gadaref-Kassala Motorway (First Loan)* 6/74 8,000 - - 8,000 8,000

2 Telecommunications* 9/75 4,800 257 - 4,543 4,543


(KD 000)

ANNEx 5PAGE 4 OF 21

** Fully Cancelled Loan.* Completed Project.



Amountof Loan



Disbursements as at

31/12/2014

Repayments as at

31/12/2014

(4) Republic of Sudan3 Rahad Roads* 16/75 4,400 11 - 4,389 4,389 4 Sennar-Damazin Motorway* 31/76 11,000 986 - 10,014 10,014 5 Railways Development* 46/77 5,000 32 - 4,968 4,968

6 Gadaref-Kassala Motorway (Supplementary Loan)*

51/79 5,200 - - 5,200 5,200

7 Nzara Rural Development** 65/81 2,500 2,500 - - - 8 Potable Water for the Rural Areas* 84/82 1,800 73 - 1,727 1,727 9 Fifth Pan-Arab Telecommunications (Earth Stations)* 100/82 1,300 223 - 1,077 1,077 10 Rehabilitation of Sugar Industry (First Loan)* 110/83 6,000 - - 6,000 6,000 11 Rehabilitation of Sugar Industry (Second Loan)* 111/83 7,500 - - 7,500 7,500

12 Rehabilitation of Gezira Agricultural Scheme (First Loan)*

136/84 8,000 - - 8,000 8,000

13 Rehabilitation of Gezira Agricultural Scheme (Second Loan)*

155/85 4,400 - - 4,400 4,400

14 Rehabilitation of Khartoum Water and Sewerage Facilities*

179/86 2,500 - - 2,500 2,500

15 Rehabilitation of Telecommunications (Phase I)* 180/86 1,600 - - 1,600 1,600

16 Rehabilitation of the Sugar Industry (Third Loan)*

181/86 3,400 - - 3,400 2,090

17 Rehabilitation of Gezira Agricultural Scheme (Third Loan)*

182/86 9,600 - - 9,600 7,056

18 National Power Grid* 198/87 8,500 - - 8,500 7,348 19 Port Sudan Water Supply* 206/87 10,000 5,000 - 5,000 3,040 20 Textiles Rehabilitation* 208/88 4,500 3,765 - 735 735 21 Paving of the Main Roads* 392/2000 23,000 - - 23,000 9,300 22 Roseires Dam* 393/2000 12,000 - - 12,000 4,875 23 Atbara - Haiya - Port Sudan Road* 410/2001 25,000 - - 25,000 6,075 24 Merowe Dam* 422/2002 46,000 - - 46,000 12,500

25 Generation and Transmission of Electricity from Merowe Dam*

448/2003 30,000 - - 30,000 4,994

26 Gadaref-Doka-Gallabat Road* 457/2003 9,000 130 - 8,870 1,833 27 Merowe Dam Road* 474/2005 4,000 - - 1,534 930 28 White Nile Sugar* 476/2005 21,000 - - 21,000 2,720 29 Heightening of Roseires Dam (Phase II)* 521/2007 58,000 - 2,662 56,869 -30 Merowe Dam (Supplementary Loan)* 528/2008 58,000 - 1,579 46,686 1,500 31 Al Salam Cement Factory (P)* 8P/2008 2,778 - - 2,778 2,77832 White Nile Sugar (Supplementary Loan) 548/2010 30,000 - 329 27,501 -33 Khartoum New International Airport 552/2010 50,000 - - - -34 Upper Atbara and Setit Dams Complex 557/2010 50,000 - 24,136 40,129 -

35 Electric Power Generating Station in the Upper Atbara and Setit Dams Complex

566/2011 30,000 - 4,507 9,378 -

36 East Sudan Roads 578/2012 54,000 - 885 12,059 -37 Water Harvesting in Border Provinces 582/2012 15,000 - 1,584 2,168 -38 Loan Program for Industrial Development Projects 586/2012 10,000 - - - -


(KD 000)

ANNEx 5PAGE 5 OF 21

** Fully Cancelled Loan.(P): Private Sector Project.




Amountof Loan



Disbursements as at

31/12/2014

Repayments as at

31/12/2014

(4) Republic of Sudan

39 Upper Atbara and Setit Dams Complex (Supplementary Loan)

591/2013 30,000 - - - -

40 Nyala - El-Geneina Transmission Line to the Darfur States

599/2013 57,000 - - - -

Subtotal 724,778 12,978 35,681 462,124 137,691(5) Republic of Iraq1 Deep Freeze Store* 107/83 10,000 1,700 - 7,259 3,032

2 Fifth Pan-Arab Telecommunications (Earth Stations-Arabsat)

141/84 5,000 - - 4,373 -

3 Mitigation of Earthquake Risks 150/84 525 - - 503 634 Deep Freeze Store in Ninawa** 169/85 8,900 8,900 - - - 5 Agricultural Credit 200/87 8,000 - - 2,678 - 6 Industrial Credit 209/88 8,000 - - 3,726 - 7 Industrial Credit II 225/89 2,800 - - 283 -

8 Abattoir and Meat Processing Unit (Central Region)

226/89 3,800 - - 749 -

9 Abattoir and Meat Processing Unit-Basra 235/90 4,200 - - - - 10 Basra Power Grid 248/90 8,500 - - - - Subtotal 59,725 10,600 - 19,571 3,095

(6) Syrian Arab Republic1 Fuel Storage Tanks* 2/74 2,000 - - 2,000 2,0002 Cattle Breeding (Ghab)* 8/74 5,400 3,412 - 1,988 1,9883 Damascus Water Supply (First Loan)* 26/76 12,000 - - 12,000 12,0004 Banias Power Station* 45/77 6,000 - - 6,000 6,0005 Second Pan-Arab Telecommunications* 60/80 2,700 918 - 1,782 1,7826 Homs and Hama Sewerage* 61/81 5,000 4,354 - 646 6467 Damascus Garbage Composting* 70/81 2,200 2 - 2,198 2,1988 Tartous-Lattakia Motorway* 93/82 6,000 - - 6,000 6,000

9 Fifth Pan-Arab Telecommunications (Earth Stations)* 95/82 1,000 - - 1,000 1,000

10 Damascus-Sanamein-Jordanian Border Road* 128/83 9,000 - - 9,000 9,000

11 Mehardeh Power Station Extension (First Loan)* 146/84 6,500 239 - 6,261 6,261

12 Mitigation of Earthquake Risks* 151/84 575 11 - 564 564

13 Pesticides Arab Joint Venture (Syria-Jordan)** 154/84 1,900 1,900 - - -

14 Mehardeh Power Station Extension (Second Loan)* 156/85 4,500 143 - 4,357 4,357

15 Damascus Water Supply (Second Loan)* 164/85 3,000 361 - 2,639 2,639

16 Fifth Pan-Arab Telecommunications (Earth Stations) - (Supplementary Loan)* 172/86 1,000 - - 1,000 1,000


(KD 000)

ANNEx 5PAGE 6 OF 21




Amountof Loan



Disbursements as at

31/12/2014

Repayments as at

31/12/2014

(6) Syrian Arab Republic

17 Tenf Pilot Scheme in Hammad Basin (Inter-Arab)*

185/86 1,700 - - 1,700 1,700

18 Ghab and Asharneh Plains Irrigation* 193/87 15,000 995 - 14,005 14,005

19 Mehardeh Power Station Extension (Supplementary Loan)*

194/87 2,500 - - 2,500 2,500

20 Hamah-Saraqeb Road and Ain Eissa-Qintari Road* 214/88 8,000 31 - 7,969 7,74121 Homs and Hama Sewerage* 241/90 9,500 1,944 - 7,556 7,01622 Aleppo Sewerage* 245/90 12,500 5,434 - 7,066 6,881

23 Rehabilitation of Phosphate Fertilizer Plant in Homs*

246/90 10,000 1,082 - 8,918 8,195

24 Khaboor Irrigation (Phase I)* 250/90 15,000 1,281 - 13,719 12,549 25 Jourine Joint Water Supply* 260/91 5,500 1,598 - 3,902 3,314 26 Phosphate Fertilizers in Tadmur 265/92 30,000 - - - - 27 Medical Equipment in Hospitals* 271/92 13,000 23 - 12,977 9,477

28 Southern Region Agricultural Development Project (Phase II)*

274/92 3,500 909 - 2,591 1,909

29 Tishrin Hydroelectric Dam* 279/93 36,000 3,054 - 32,946 24,576 30 Rehabilitation of Sulphuric Acid Plant in Homs* 287/93 6,000 739 - 5,261 5,261 31 Zeizoun Power Generating Station* 291/93 30,000 689 - 29,311 21,711 32 Agricultural Development in Jabal Al-Hoss* 307/95 2,500 832 - 1,668 744

33 Interconnection of Jordan and Syria Power Grids (Syria)*

312/95 30,000 - - 28,223 17,290

34 Syria-Turkey Power Grid Interconnection and Reinforcing the Syrian Internal Network*

314/95 26,000 2,936 - 23,064 10,714

35 Construction of 66 kV Substations in Six Governorates*

319/95 15,500 - - 11,902 5,880

36 Agricultural Development in the Coastal and Central Areas*

327/96 17,500 6,559 - 10,941 3,741

37 Modernization of the Communications System in Syria (1.650 million new lines)*

351/97 26,000 - - 21,950 11,840

38 National Control Center for the Electric System* 366/98 10,000 - - 7,382 3,575 39 Integrated Development in the Badia* 368/98 20,000 - - 14,659 5,970 40 Lattakia - Ariha Motorway 379/98 30,000 - - 26,829 11,180

41 Modernization of the Communications System (Subscribers’ Networks)*

384/99 30,000 - - 30,000 10,260

42 The Expansion and Conversion to Combined Cycle of Nasrieh Power Plant*

409/2001 25,000 - - 9,293 2,860

43 Transformation Stations in the Industrial Cities of Rif Dimashq, Homs and Aleppo Provinces*

429/2002 9,000 - - 7,371 1,750

44 Rural Development in Idlib Governorate 433/2002 5,500 - - 606 -

45 Converting Zeizoun Power Station to Combined Cycle*

440/2003 22,000 - - 13,654 2,950


(KD 000)

ANNEx 5PAGE 7 OF 21




Amountof Loan



Disbursements as at

31/12/2014

Repayments as at

31/12/2014

(6) Syrian Arab Republic

46 Power Generating Station in the South (Deir Aly)* 469/2004 30,000 - - 29,643 -

47 Arab Gas Pipeline Project - Third Stage (Aleppo - Kalas Section)

529/2008 10,000 - - 1,881 -

48 Expansion of Deir Ali Power Generating Station 536/2008 45,000 - - 20,169 - 49 Deir Al-Zor - Al-Boukamal Road 537/2008 16,000 - - 33 -

50 Power Generating Station in the Eastern Region (Deir Al-Zor)

493/2006 30,000 - - - -

51 Power Generating Station in the Eastern Region (Deir Al-Zor) - (Supplementary Loan)

565/2011 30,000 - - - -

Subtotal 696,975 39,447 - 467,123 273,023(7) State of Libya

1 Two Fish Packaging Plants in Sabrata and Zlaiten*

240/90 11,000 1,867 - 9,133 9,133

2 Libya-Tunisia Power Link * 244/90 2,200 784 - 1,416 787

3 Interconnection of the Libyan and Egyptian Power Grids (Libya)*

326/96 12,000 2,590 - 9,410 6,650

4 National Control Center for the Libyan Electrical System*

329/96 20,000 - - 20,000 5,139

5 Submarine Fiber Optic Cable* 369/98 12,500 2,932 - 9,568 9,5686 Development Credit** 385/99 25,000 25,000 - - -

7 Converting North Benghazi Electrical Power Plant to Combined Cycle*

398/2000 25,000 - - 25,000 7,600

8 Conversion of Al-Zawya Power Station to Combined Cycle*

437/2002 28,000 - - 22,012 7,500

9 Electrical Inter-Connection at 400 kV (Phase II)

458/2004 40,000 - - 36,336 8,050

Subtotal 175,700 33,173 - 132,875 54,427(8) Arab Republic of Egypt1 Talkha II Fertilizers (First Loan)* 4/74 6,500 - - 6,500 6,5002 Tourah Cement Expansion* 11/75 6,700 - - 6,700 6,7003 Cairo-Fustat Water Supply* 17/75 9,700 1,806 - 7,894 7,8944 Cairo-Helwan Sewerage* 18/75 8,300 7,603 - 697 6975 Talkha II Fertilizers (Supplementary Loan)* 24/76 2,700 6 - 2,694 2,6946 Abu-Qir Power Station Extension* 28/76 12,000 3,041 - 8,959 8,9597 Kafr El-Dawar Textiles* 30/76 10,000 - - 10,000 10,0008 Suez Canal Development* 40/77 12,000 - - 12,000 12,0009 Dumyat Power Station (Phase II)* 221/89 35,000 700 - 34,300 33,42510 Idfu Wood Pulp Plant Extension* 229/89 7,500 632 - 6,868 6,18011 Egypt-Jordan Power Link* 234/89 34,100 3,339 - 30,761 29,34912 Soda Ash Plant (First Loan)* 238/90 7,000 - - 7,000 6,30013 Ammonium Nitrate Unit* 247/90 8,000 - - 8,000 7,380


(KD 000)

ANNEx 5PAGE 8 OF 21




Amountof Loan



Disbursements as at

31/12/2014

Repayments as at

31/12/2014

(8) Arab Republic of Egypt14 Kureimat Power Station* 254/91 36,250 3,585 - 32,665 28,76515 Rubber Tires and Tubes Factory Extension* 255/91 10,500 - - 10,500 8,64016 Social Development Fund (Phase I)* 256/91 14,400 11 - 14,389 11,79917 Sewerage Projects in 46 Towns* 270/92 36,000 14,732 - 21,268 17,56818 Sidi-Kreir Thermal Power Station* 272/92 44,000 6,363 - 37,637 25,83319 Mitigation of Earthquake Risks* 275/92 2,000 1 - 1,999 1,55920 Reconstruction of Earthquake- damaged Schools* 276/93 15,000 - - 15,000 10,95021 Suez Transformers Station* 278/93 16,000 733 - 15,267 11,784

22 Rehabilitation of Phosphatic Fertilizers Plant in Abu Zaabal*

284/93 4,000 242 - 3,758 3,631

23 Electric Insulations Plant* 286/93 4,500 484 - 4,016 4,01624 Float Glass Plant* 292/94 15,000 384 - 14,616 14,61625 Soda Ash Plant (Second Loan)* 295/94 4,000 82 - 3,918 3,91826 Oyun Moussa Power Station* 309/95 39,000 8,600 - 30,400 19,64827 Construction of a Special Steel Factory* 318/95 15,000 409 - 14,591 12,52128 Social Development Fund (Phase II)* 346/97 21,000 - - 21,000 9,07229 The Liver Diseases Center 362/98 3,000 - 152 191 - 30 Construction of a Flat Steel Plant* 372/98 17,000 79 - 16,921 16,921

31 Upgrading the Egyptian National Railroads Authority’s Locomotives and Workshops*

399/2000 16,000 - - 15,498 4,040

32 Cairo North Power Generation Station* 407/2001 27,000 1,707 - 25,293 6,443

33 Water Supply for 240 Villages Deprived of Potable Water - Phase I

420/2001 17,000 - - 13,110 4,980

34 Natural Gas Pipeline (Al-Arish - Aqaba)* 427/2002 17,000 4,224 - 12,776 12,77635 Nubaria Power Station - Phase I* 434/2002 30,000 681 - 29,319 8,31936 Nubaria Power Station - Phase II* 438/2003 30,000 104 - 29,896 6,79637 Educational Buildings** 442/2003 30,000 30,000 - - -

38 Water Supply for 240 Villages Deprived of Potable Water - Phase II

432/2002 30,000 - - 27,459 8,052

39 Talkha Combined Cycle (750 M.W.) Power Generation Station*

461/2004 30,000 - - 29,486 6,160

40 Development of the Waterway Between Cairo and Alexandria

472/2005 10,000 - 12 3,063 580

41 Expansion of West Cairo Power Generation Station* 484/2005 30,000 - - 30,000 2,31042 Development of Hurghada International Airport 488/2006 35,000 - 1,673 32,760 - 43 Al-Atf Power Generating Station* 492/2006 30,000 - 499 30,000 1,540

44 Expansion of Abu Qir Power Generating Station 1300 MW

513/2007 30,000 - 2,467 29,135 -

45 Expansion of Abu Qir Power Generating Station 1300 MW (Second Loan)

525/2007 30,000 - 2,467 29,135 -

46 El-Ain El-Sokhna Power Generating Station 539/2009 55,000 - 4,329 38,251 -


(KD 000)

ANNEx 5PAGE 9 OF 21




Amountof Loan



Disbursements as at

31/12/2014

Repayments as at

31/12/2014

(8) Arab Republic of Egypt47 South Gas Pipeline 530/2008 25,000 - - 20,847 - 48 Banha Power Generating Station* 554/2010 50,000 - 11,523 33,926 -

49 Development of Hurghada International Airport (Supplementary Loan)

559/2010 15,000 - 10,401 12,663 -

50 South Helwan Power Generating Station 571/2011 55,000 - - - -

51Urgent Program to Support Small and Medium Private Sector Projects and Enterprises

572/2011 30,000 - 13,471 18,863 -

52Modernization of the Signaling System on the Benha - Zagazig - Ismailia - Port Said Corridor

583/2012 44,000 - - - -

53Electrical Interconnection Between the Arab Republic of Egypt and the Kingdom of Saudi Arabia

603/2013 45,000 - - - -

54 Assiut Power Generating Station(El-Walidia) 650 MW

604/2013 55,000 - - - -

55 Al Nouran Sugar (P) 14P/2014 3,500 - - - - Subtotal 1,225,650 89,547 46,995 861,988 401,316

(9) Republic of Yemen1 Mukalla Multipurpose* 1/74 3,200 - - 3,200 3,200 2 Electric Power I* 7/74 4,000 - - 4,000 4,000 3 Aden Port Rehabilitation* 12/75 3,900 - - 3,900 3,900 4 Hodeida Water Supply and Sewerage* 13/75 6,000 727 - 5,273 5,273 5 Taiz-Aden Road* 22A/75 3,800 - - 3,800 3,800 6 Aden-Taiz Road* 22B/75 6,500 - - 6,500 6,500 7 Mukalla Multipurpose (Supplementary Loan)* 27/76 2,600 1,904 - 696 696 8 Electric Power II* 32/77 9,000 - - 9,000 9,000 9 Sana’a Water Supply* 37/77 5,000 91 - 4,909 4,909 10 Hadramaut Power* 48/79 4,000 - - 4,000 4,000 11 Wadi Tuban Agricultural Scheme* 53/80 1,900 25 - 1,875 1,875 12 Dhamar Water Supply and Sewerage* 56/80 3,000 7 - 2,993 2,993

13 Electric Power III (Dhamar-Taiz Transmission Network)* 62/81 4,700 - - 4,700 4,700

14 Aden Water Supply (First Loan)* 63/81 3,500 - - 3,500 3,500 15 Third Pan-Arab Telecommunications* 68/81 1,400 - - 1,400 1,400 16 Third Pan-Arab Telecommunications* 69/81 1,300 - - 1,300 1,300 17 Electric Power IV (Al-Mokha Power Station)* 79/82 4,000 42 - 3,958 3,958 18 Potable Water to Rural Areas* 87/82 1,500 - - 1,500 1,500 19 Potable Water to Rural Areas* 88/82 700 80 - 620 620 20 Nashtoun Fisheries Port* 90/82 3,000 - - 3,000 3,000

21 Fifth Pan-Arab Telecommunications (Earth Stations)* 97/82 1,200 - - 1,200 1,200


(KD 000)

ANNEx 5PAGE 10 OF 21




Amountof Loan



Disbursements as at

31/12/2014

Repayments as at

31/12/2014

(9) Republic of Yemen22 Reconstruction of Flood-damaged Roads and Bridges* 109/83 1,000 - - 1,000 1,000 23 Strengthening of Taiz-Al Mafraq Road* 114/83 2,100 388 - 1,712 1,712

24 Electric Power III Development (Electrification of Five Towns East of Mukalla)* 122/83 1,500 - - 1,500 1,500

25 Fisheries Manpower Centre (FMDC) and the Fisheries Co-operatives (FDC)* 124/83 1,000 - - 1,000 1,000

26 Dhamar Water Supply and Sewerage (Supplementary Loan)* 125/83 3,000 7 - 2,993 2,993

27 Rural Development in the Central Highlands* 126/83 3,000 236 - 2,764 2,764 28 Seiyoun Regional Water Supply* 127/83 2,000 - - 2,000 2,000

29 Seiyoun Regional Water Supply Development (Phase II)* 131/84 3,700 61 - 3,639 3,639

30 Geological and Water Mapping of Northern Yemen* 132/84 1,200 151 - 1,049 1,049 31 Geological and Water Mapping of Southern Yemen* 133/84 1,200 211 - 989 989 32 Development of Health Institute* 138/84 1,100 246 - 854 854 33 Strengthening of Sana’a-Taiz Road* 147/84 5,600 247 - 5,353 5,353 34 Mitigation of Earthquake Risks* 152/84 600 1 - 599 599 35 Grain Silos** 157/85 8,000 8,000 - - - 36 Wadi Hajar Agriculture* 160/85 3,500 - - 3,500 3,500 37 Aden-Abyan Electrification Scheme* 161/85 5,900 237 - 5,663 5,663 38 Nisab-Beigan Road* 170/86 4,200 58 - 4,142 4,142 39 Electricity Distribution Network (First Loan)* 173/86 4,200 - - 4,200 4,200 40 Greater Aden Second Water Supply (Second Loan)* 174/86 2,000 221 - 1,779 1,779 41 Wadi Jawf Agricultural Development* 177/86 3,100 151 - 2,949 2,949 42 Aden Water Supply (Supplementary Loan)* 188/86 1,000 2 - 998 998 43 Laboos Water Supply* 189/87 4,000 58 - 3,942 3,942 44 Strengthening Sana’a-Hodeida Road* 199/87 6,800 - - 6,800 6,800 45 Lawder-Mukairas Road and Road Maintenance* 204/87 5,500 113 - 5,387 5,387 46 The FMDC and the FDC (Supplementary Loan)* 205/87 1,500 37 - 1,463 1,463 47 Zabid-Al Hodeida Road Rehabilitation* 211/88 2,500 - - 2,500 2,432 48 Northern Region Agricultural Development* 215/88 3,500 38 - 3,462 2,804 49 Yemen Power Link Taiz-Aden* 217/88 8,600 24 - 8,576 7,190 50 Yemen Power Link Aden-Taiz* 218/88 10,000 62 - 9,938 8,874 51 Al-Mukalla Water Supply* 220/88 2,850 20 - 2,830 2,750

52 Integrated Rural Development in the Central Highlands* 222/89 3,500 254 - 3,246 2,180

53 Agricultural Credit* 230/89 5,500 8 - 5,492 4,707

54 Wadi Hadramaut Agricultural Development Project (Phase III)** 232/89 3,300 3,300 - - -

55 Hojja-Al Khashm Road* 236/90 3,000 570 - 2,430 2,15556 Electricity Distribution Network (Second Loan)* 251/90 4,500 146 - 4,354 3,133

57 SEA-ME-WE II Submarine Cable Project (Second Loan)* 268/92 5,000 1,905 - 3,095 2,535


(KD 000)





Amountof Loan



Disbursements as at

31/12/2014

Repayments as at

31/12/2014

(9) Republic of Yemen

58 Rehabilitation of Flood-damaged Electricity, Water and Sewerage Facilities in Aden*

288/93 2,500 23 - 2,477 1,817

59 Sana’a Sewerage Treatment Plant* 322/96 8,000 1 - 7,999 4,87960 Social Development Fund* 350/97 6,000 - - 6,000 2,754

61 Wadi Hadramaut Agricultural Development Project (Phase III)*

357/97 4,000 702 - 3,298 1,140

62 Sanitation Networks in Sana’a 383/99 18,000 - 330 14,512 8,80463 Sayhut - Nashtoun Road* 403/2000 26,000 - 1,589 20,262 8,45064 Sana’a International Airport Development 411/2001 28,000 - - 9,837 9,83765 Social Development Fund - Phase II* 425/2002 15,000 - - 15,000 4,45566 Grain Silos and Flour Mills at Saleef Port (P)* 2P/2002 3,000 - - 3,000 3,000

67 Ma’rib - Sana’a Transmission Lines at 400 k.V. and Upgrading the Electrical Grid*

435/2002 30,000 - 854 27,584 5,840

68 Dhamar - Al-Husseiniya Road 445/2003 15,000 - 190 14,755 3,650

69 Construction of Ma’rib Gas-Turbine Electrical Generating Station*

447/2003 25,000 - - 24,531 5,490

70 Major Intersections in Sana’a City 453/2003 15,000 - 303 14,574 4,015

71 Grain Silos and Flour Mills at Saleef Port (Supplementary Loan) (P)*

3P/2004 2,000 - - 2,000 2,000

72 Completion of Sanitation Networks in Sana’a 463/2004 12,000 - 312 10,342 2,79373 Five-Star Hotel in Sana’a (P)* 4P/2004 6,000 - - 6,000 3,43674 Rural Access Roads 467/2004 26,000 - 357 21,145 3,350

75 Development of Local Communities (Phase III)*

477/2005 15,000 - - 15,000 1,620

76 Aden Iron Factory in Lahaj Governorate (P)* 5P/2006 7,000 - - 7,000 3,68077 Social Development Fund - Phase III* 480/2005 15,000 - - 15,000 1,62078 Wastewater Facilities in Seiyoun and Tarim 482/2005 15,000 - 1,627 1,767 -

79Construction of a Second Ma’rib Gas-Turbine Power Generating Station and the Expansion of the Transmission Grid

502/2006 30,000 - 17,856 25,677 -

80 Agricultural and Fisheries Development in the Hadramout Coastal Area

508/2007 12,000 - 211 561 325

81 Aden Iron Factory in Lahaj Governorate (Supplementary Loan) (P)*

7P/2007 3,000 - - 3,000 1,320

82 Sana’a International Airport Development (Phase II) 516/2007 47,000 - 1 1 -

83 Development of the Coastal Road in Aden Governorate

520/2007 10,000 - 653 1,987 -

84 Development of Water and Wastewater Facilities in Aden Governorate

526/2008 10,000 - 138 294 -

85 Glass Factory in Sana’a Governorate (P) 9P/2008 3,175 - 175 3,114 - 86 Taez International Airport Development 533/2008 7,000 - - - - 87 Major Intersections in Sana’a City (Phase II) 541/2009 8,000 - 75 6,896 19588 Sugar Refinery in Aden (P) 10P/2009 8,250 - - - -


(KD 000)





Amountof Loan



Disbursements as at

31/12/2014

Repayments as at

31/12/2014

(9) Republic of Yemen89 Al Mukalla Iron and Steel Factory (P)* 11P/2009 4,800 256 - 4,544 - 90 Rural Roads Development (Phase III) 545/2009 15,000 - 2,237 2,873 - 91 Protection of Sana’a City from Floods 550/2010 7,000 - 2,045 4,667 - 92 Social Fund for Development (Phase IV) 560/2010 30,000 - 13,449 20,321 - 93 Major Intersections in Sana’a City (Phase III) 562/2011 10,000 - 2,818 3,281 -

94 Dhamar - Al-Husseiniya Road (Supplementary Loan)

563/2011 12,000 - 2,722 3,927 -

95Construction of a Second Ma’rib Gas-Turbine Power Generating Station and Expansion of the Transmission Grid (Supplementary Loan)

564/2011 43,000 - 26,645 27,988 -

96 Construction of a 60 MW Wind Farm in the Al-Mokha Area

581/2012 18,000 - - - -

97 Sanitary Networks in Sana’a (Phase IV) 589/2013 15,000 - - - - 98 Reconstruction of Abyan 594/2013 10,000 - - - - 99 Educational Hospital for Aden University 596/2013 18,000 - - - -

100 Rehabilitation and Expansion of Sana’a - Al Hudaydah Road

597/2013 30,000 - - - -

101 Expansion of Flour Mills at Saleef Port (P) 13P/2014 4,000 - - - - 102 Infrastructure Development in Sana’a City 606/2014 30,000 - - - - 103 Al Ghaydah Central Hospital 612/2014 6,000 - - - - Subtotal 887,875 20,612 74,586 534,736 260,827

(10) Republic of Lebanon1 Electricity Network* 38/77 6,000 - - 6,000 6,0002 Beirut Port* 39/77 5,000 - - 5,000 5,0003 Rehabilitation of Electricity Installations* 263/91 22,000 3,157 - 18,843 17,8154 Reconstruction and Shelter Rehabilitation* 282/93 8,000 - - 8,000 6,480

5 Rehabilitation of Electricity Installations (Supplementary Loan)*

304/94 7,000 291 - 6,709 5,285

6 Zahrani Power Station* 305/94 30,500 - - 30,500 24,9007 Saida and Sour Water Supply* 317/95 10,000 6 - 9,994 5,7198 Technical and Vocational Schools 323/96 15,000 - 155 14,100 10,320

9 Administrative Rehabilitation of Public and Independent Agencies*

325/96 6,000 5 - 5,995 3,931

10 Rehabilitation of the Infrastructure and Buildings Damaged by the Israeli Aggression*

331/96 13,500 - - 13,438 7,266

11 The Lebanese University Project (First Loan)* 355/97 23,000 - - 23,000 13,86012 Syr El-Dania Jbab El-Homr / El-Hermel Road* 356/97 6,000 173 - 5,827 2,241

13 Beirut Southern Entrances: Khaldeh-Cocodi and Awzaee Roads*

363/98 12,000 6,076 - 5,924 3,824

14 Interconnecting the Lebanese and Syrian Electric Grids at 400 kV*

400/2000 8,000 - 70 4,142 3,430

15 Conveyance of Litani Water to Southern Lebanon

418/2001 31,000 - 5,109 13,792 1,960


(KD 000)





Amountof Loan



Disbursements as at

31/12/2014

Repayments as at

31/12/2014

(10) Republic of Lebanon16 Control Center for the Lebanese Power Network 423/2002 7,000 - 18 6,421 1,33017 Infrastructure Upgrading in Beirut City 430/2002 17,000 - 125 9,438 6,37018 The Lebanese University Project (Second Loan)* 439/2003 6,000 1,583 - 4,417 1,749

19 Development of the Road Network and Main Intersections

449/2003 30,000 - 660 22,220 6,020

20 Administrative Rehabilitation 495/2006 9,000 - 438 2,110 -

21 Development of Water and Wastewater Facilities in some Areas in Lebanon

496/2006 25,000 - 2,598 6,547 -

22 Rehabilitation of Infrastructure Damaged by the Aggression

500/2006 30,000 - 1,541 14,393 -

23 Rehabilitation of the Private Sector Enterprises Damaged by the Israeli Aggression**

505/2006 25,000 25,000 - - -

24 Rehabilitation of Electric Power Installations Damaged by the Israeli Aggression

506/2006 35,000 - - - -

25 Syr El-Dania Jbab El-Homr/ El-Hermel Road (Second Loan)

527/2008 6,000 - 555 2,691 -

26 Housing Project 585/2012 34,000 - - - - 27 Completion of Wastewater Facilities in Lebanon 600/2013 30,000 - - - - Subtotal 457,000 36,291 11,270 239,502 133,500

(11) Kingdom of Morocco1 Telecommunications* 10B/75 3,000 802 - 2,198 2,198 2 Beni Amir Irrigation* 20/76 7,000 1,254 - 5,746 5,746 3 Agricultural Credit (First Loan)* 33/77 9,000 - - 9,000 9,000 4 Oujda Cement* 41/77 9,000 - - 9,000 9,000 5 Gharb Irrigation* 54/80 5,000 - - 5,000 5,000 6 Al-Houz Al-Awsat (First Loan)* 74/81 7,500 - - 7,500 7,500 7 Al-Houz Al-Awsat (Second Loan)* 76/82 7,500 - - 7,500 7,500 8 Potable Water to Rural Areas* 85/82 1,300 1,135 - 165 165


103/82 1,000 - - 1,000 1,000

10 Agricultural Development in Loukkos Valley (First Loan)*

121/83 7,500 - - 7,500 7,500

11 Agricultural Credit (Second Loan)* 134/84 8,000 - - 8,000 8,000 12 Mitigation of Earthquake Risks* 153/84 600 6 - 594 594 13 Ait Ayoub Dam for Irrigation and Electricity* 168/85 15,000 4,787 - 10,213 10,213 14 Lower Tassaout Irrigation* 176/86 5,000 - - 5,000 5,000

15 Aoulouz Dam and Agricultural Development in Wadi Souss*

191/87 15,000 2,903 - 12,097 12,097

16 Al-Mana’ Barrage and Irrigation of Lands in Al-Gharb Plain*

212/88 17,000 2,863 - 14,137 14,137

17 Ismir Dam and Potable Water for Tatwan Area* 223/89 4,000 900 - 3,100 3,10018 Agricultural Credit (Third Loan)* 231/89 12,000 - - 12,000 12,000


(KD 000)





Amountof Loan



Disbursements as at

31/12/2014

Repayments as at

31/12/2014

(11) Kingdom of Morocco19 Maja’ra Dam* 237/90 50,000 542 - 49,458 44,964

20 Rehabilitation of Flood-damaged Infrastructure*

249/90 2,500 33 - 2,467 2,467

21 Upper Dokala Region Irrigation (Phase I)* 264/91 30,000 3,983 - 26,017 23,758

22 Rabat-Larache Motorway* 267/92 18,000 - - 18,000 16,995

23 Agricultural Credit (Fourth Loan)* 281/93 18,000 5,251 - 12,749 12,749

24 Seedi Al-Shahid Dam* 290/93 18,500 2,697 - 15,803 13,593

25 Strengthening Internal Power Grid for the Morocco - Spain Interconnection*

299/94 18,500 4,628 - 13,872 12,122

26 Loukkos Basin Agricultural Development (Second Loan)*

300/94 3,000 22 - 2,978 2,478

27 Al-Gharb Plain Irrigation (Phase II)* 303/94 20,000 537 - 19,463 15,389

28 Rabat-Fes Motorway* 306/95 23,000 3,123 - 19,877 15,964

29 Maja’ra Dam (Second Loan)* 315/95 17,000 2,990 - 14,010 10,221

30 Combatting the Effects of the Drought* 316/95 10,000 - - 10,000 8,845

31 Potable Water for Meknes City** 330/96 7,000 7,000 - - -

32 Agadir and Tantan Fisheries Port* 335/96 13,000 1,095 - 11,905 8,908

33 Morocco-Spain Power Interconnection (Supplementary Loan)*

337/96 7,000 3,428 - 3,572 2,682

34Dchar El Oued and Ait Massoud Dams for Electricity, Irrigation and Drinking Water*

344/97 15,000 5,886 - 9,114 5,874

35 Dchar El Oued and Ait Massoud Dams: Financing the Two Hydro-electric Stations*

345/97 15,000 8,796 - 6,204 4,014

36 Casablanca-Settat Motorway (Second Section)*

364/98 16,000 4,031 - 11,969 6,561

37 Development of Social Housing in Agadir City* 378/98 18,000 3,634 - 14,366 3,566

38 Ait Hamou Dam and Supplying Greater Agadir City with Water*

380/99 17,000 8,966 - 8,034 4,704

39 Mohammed V Airport Development* 389/99 10,000 - - 9,377 3,240

40 Afourer Pumped Storage Hydro-Power Plant*

397/2000 25,000 2,736 - 22,264 11,464

41 Casablanca - El-Jadida Motorway* 416/2001 15,000 3,099 - 11,901 5,501

42 Raising of Sidi Mohammed Bin Abdullah Dam and Construction of Boukhamis Dam*

421/2002 18,000 - - 8,149 6,180

43 Rural Electrification 446/2003 20,000 - 92 19,689 6,270

44 Tetouan - Fenidiq Motorway* 451/2003 14,000 5,386 - 8,614 2,974

45 Settat - Marrakech Motorway (Phase I)* 452/2003 30,000 15,167 - 14,833 4,583

46 Tangier Mediterranean Harbour - Northern Highway Motorway*

460/2004 35,000 5,378 - 29,622 7,652


(KD 000)





Amountof Loan



Disbursements as at

31/12/2014

Repayments as at

31/12/2014

(11) Kingdom of Morocco

47 Werkan Dam to Supply Marrakech with Potable Water*

470/2004 7,000 - - 5,956 1,600

48Tangier Mediterranean Harbour - Northern Highway Motorway (Section Three)*

473/2005 20,000 2,921 - 17,079 4,391

49 Marrakech - Agadir Motorway* 485/2005 29,000 262 - 28,738 5,778

50 Wadi Al-Raml Dam to Supply Tangier Mediterranean Port with Water*

486/2005 9,000 - - 9,000 1,960

51 Marrakech - Agadir Motorway (Second Loan)* 491/2006 31,000 - - 31,000 5,340

52Generalization and Integration of Information Technology in Public School Education*

498/2006 15,000 - - 4,772 2,460

53 Rural Roads 503/2006 15,000 - 13 14,322 1,72054 Fes - Oujda Motorway* 512/2007 30,000 59 - 29,941 4,291

55Water Supply for the Provinces of Taounate, Chefchaouen, Sidi Kacem and Tanger Med Port

514/2007 15,000 - 406 8,426 1,215

56 Wadi Martil Dam 517/2007 23,000 - 318 19,794 -

57 Fes - Oujda Motorway (Taza - Oujda Section)*

534/2008 27,000 5,248 - 21,752 -

58 Expansion of Casablanca - Rabat Motorway* 538/2008 20,000 - - 20,000 - 59 Zerrar Dam* 540/2009 15,000 - 995 13,259 -

60 Water Supply of Tangier & Tantan Regions

546/2009 20,000 - 5,089 10,496 -

61 Berrechid - Beni Mellal Motorway 549/2010 55,000 - 3,049 35,620 - 62 Dar Khrofa Dam 556/2010 12,000 - 2,458 8,850 - 63 Tangier Med II Port 558/2010 50,000 - 5,669 43,677 - 64 High-Speed Train Tangier - Casablanca 568/2011 30,000 - - - - 65 El Jadida - Safi Motorway 579/2012 30,000 - 2,202 5,195 - 66 Water Supply of Tetouan Area 584/2012 7,000 - - - - 67 Tangier Med II Port (Phase II) 602/2013 50,000 - - - -

68 Irrigation of the Chtouka AÏt Baha Region with Desalinated Water

611/2014 50,000 - - - -

Subtotal 1,197,900 121,546 20,290 841,937 412,225(12) Kingdom of Bahrain

1 Bahrain Power* 44/77 5,000 - - 5,000 5,000

2 Sixth Pan-Arab Telecommunications, Submarine Gulf Cable (Bahrain-Qatar-UAE)*

113/83 3,000 - - 3,000 3,000

3Seventh Pan-Arab Telecommunications, Submarine Gulf Cable (Bahrain-Kuwait)**

142/84 3,000 3,000 - - -

4 Roads Development* 201/87 5,500 5,425 - 75 75

5 Roads Development (Second Loan)* 258/91 11,000 894 - 10,106 9,829


(KD 000)





Amountof Loan



Disbursements as at

31/12/2014

Repayments as at

31/12/2014

(12) Kingdom of Bahrain

6 Development of Suleimaniyah Medical Center (First Loan)*

259/91 21,000 1,002 - 19,998 19,998

7 Development of Suleimaniyah Medical Center (Second Loan)*

308/95 11,000 3,348 - 7,652 7,652

8 The Housing Project (First Loan)* 334/96 15,000 580 - 14,420 10,570

9 Transfer and Distribution of Water from Al-Hidd Desalination and Power Station*

349/97 21,000 1,450 - 19,550 12,998

10 Interconnection of Al-Hidd Production Facility to the Electric Grid*

360/97 10,000 1,112 - 8,888 6,092

11 Production and Utilization of Treated Sewerage Effluent*

367/98 15,000 3,842 - 11,158 8,158

12 Hidd Industrial Area * 370/98 25,000 - - 16,878 10,72513 The Housing Project (Second Loan)* 381/99 20,000 - - 20,000 11,88014 Bahrain Specialized Hospital (P)* 1P/2001 3,000 - - 3,000 3,000

15 Expansion of the Electric Generation and Transmission Systems*

417/2001 25,000 - - 20,956 8,640

16 Khalifa Bin Salman Port * 465/2004 15,000 5,616 - 9,384 2,63417 Upgrading the Electrical Transmission Network* 478/2005 14,000 7,000 - 7,000 1,90018 Replacement of Sitra Causeway Bridge 504/2006 19,000 - - - -

19 Upgrading 220 kV and 66 kV Electrical Transmission Network*

544/2009 30,000 - 2,992 19,732 -

20 Development of Water Supply Network 575/2011 30,000 - 5,464 7,936 - Subtotal 301,500 33,268 8,456 204,734 122,152

(13) Somali Democratic Republic1 Inter-riverine Settlements*(1) 23/76 6,400 1,250 - 4,571 2642 Hargeisa-Borama Road* 35/77 2,500 - - 2,098 2353 Goluen-Gelib Road (First Loan)* 36/77 5,500 - - 5,500 3624 Trypanosomiasis and Tsetse Control (Phase I)* 52/79 1,600 - - 1,258 - 5 Third Pan-Arab Telecommunications 66/81 1,700 - - 1,434 - 6 Mogadishu Water Supply II* 73/81 5,000 - - 3,015 - 7 Goluen-Gelib Road (Supplementary Loan)* 77/82 3,500 1 - 3,499 - 8 Mogadishu Electricity 80/82 2,000 - - 1,763 - 9 Fifth Pan-Arab Telecommunications (Earth Stations) 99/82 1,200 - - - -

10 Afgoi-Baidoa Road* 112/83 5,000 - - 682 - 11 Expansion of Gezira Power Station 137/84 4,800 - - - - 12 Fisheries Development in the North** 143/84 1,500 1,500 - - - Subtotal 40,700 2,751 - 23,821 861

(14) Islamic Republic of Mauritania1 Nouadhibou Power Station* 21/76 5,200 - - 5,200 5,2002 Nouakchott-Kiffa Motorway (First Loan)* 25/76 7,000 - - 7,000 7,0003 Guelbs Iron Ore Production* 49/79 10,000 1 - 9,999 9,9994 Boghi-Kehidi Road Maintenance* 75/81 1,500 - - 1,500 1,500


(KD 000)


** Fully Cancelled Loan.(P): Private Sector Project.* Completed Project.(1) The amount of the loan was reduced from KD 6.40 million to KD 5.15 million due to the change in the description of the project.



Amountof Loan



Disbursements as at

31/12/2014

Repayments as at

31/12/2014

(14) Islamic Republic of Mauritania

5 Nouadhibou Power Station (Supplementary Loan)* 81/82 200 - - 200 200

6 Potable Water to the Rural Areas* 86/82 400 12 - 388 388

7 Fifth Pan-Arab Telecommunications (Earth Stations)* 104/82 1,200 77 - 1,123 1,123

8 Nouakchott Power (First Loan)* 105/82 3,000 - - 3,000 3,0009 Nouakchott Power (Second Loan)* 106/83 2,300 - - 2,300 2,30010 Telecommunications in Nouadhibou* 119/83 2,100 - - 2,100 2,10011 Development Credit (First Loan)* 135/84 2,000 - - 2,000 2,00012 Educational, Health and Veterinary Services* 139/84 4,500 2 - 4,498 2,93013 Oases Development (Phase I)* 163/85 3,400 - - 3,400 2,15614 Artisanal Fisheries Development in Nouadhibou* 178/86 3,200 425 - 2,775 1,36515 Nouakchott Telephone/Telex Exchanges* 186/86 2,800 - - 2,800 2,80016 Guelbs Iron Ore Production (Second Loan)* 202/87 1,300 - - 1,300 1,30017 Development Credit (Second Loan)* 203/87 1,000 723 - 277 27718 Wilayas Electricity Supply* 216/88 7,500 - - 7,500 1,42419 Boghi-Kehidi Road (Second Loan)* 219/88 3,100 12 - 3,088 84720 Domestic Satellite Network* 227/89 5,000 11 - 4,989 1,09321 Mhaoudat Iron Ore Production* 269/92 6,000 - - 6,000 6,00022 Nouakchott-Akjojot-Atar Road* 289/93 6,500 28 - 6,472 1,02423 Oases Development (Phase II)* 297/94 2,400 - - 2,400 2,10024 Nouadhibou Water Supply* 313/95 10,000 - 221 9,539 7,360

25 Expansion of the Nouakchott Power Generating Station* 336/96 4,600 63 - 4,537 3,907

26 Potable Water for the Interior Cities 343/97 3,500 - 65 3,414 2,22527 Alag-Maqtaa Lehjar Road * 347/97 3,500 1,460 - 2,040 2,040

28 Transmission of Electrical Energy from Manantali Dam to Mauritania* 352/97 8,000 - - 7,371 3,974

29 Rehabilitation and Construction of 33 Small Dams in the Area Adjacent to Achram* 375/98 3,500 - - 3,327 1,652

30 Connecting Boghe to the Manantali Electrical Grid*

408/2001 4,000 - 117 3,980 1,339

31 Debt Reduction* 414/2001 14,000 - - 14,000 1,50532 Nouakchott - Nouadhibou Road * 419/2001 16,000 - - 15,565 4,730

33 Nouakchott Water Supply from the Senegal River* 454/2003 30,000 - 56 29,932 5,390

34 Expansion of Nouadhibou Power Generation Station 468/2004 7,000 - - 6,885 1,539

35 Nouadhibou Water Distribution Network 475/2005 4,000 - 119 3,748 68636 Power Generation Stations for Interior Cities* 481/2005 2,000 1,911 - 89 8937 Atar - Tidjikja Road 509/2007 11,000 - 2,870 7,191 810

38 Developing Water and Road Services in Rural Areas 510/2007 13,000 - 294 12,894 335

39 Nouakchott Water Supply from the Senegal River (Supplementary Loan)* 511/2007 37,000 - 91 33,707 860


(KD 000)





Amountof Loan



Disbursements as at

31/12/2014

Repayments as at

31/12/2014

(14) Islamic Republic of Mauritania

40 Lease Financing of Small and Medium-Size Projects and Enterprises (P)*

6P/2007 1,000 - - 1,000 1,000

41 Drinking Water and Electricity Emergency Program for the City of Nouakchott*

523/2007 15,000 - 879 14,219 760

42 Rehabilitation of Al-Amal Road (Sections II and IV)

531/2008 19,000 - 2,233 9,757 -

43Drinking Water and Electricity Emergency Program for the City of Nouakchott (Supplementary Loan)*

535/2008 10,000 - 316 9,116 -

44 Electricity Emergency Program for the City of Nouakchott (Supplementary Loan)*

547/2009 10,000 - - 9,757 -

45 Water Distribution Network in Nouakchott 555/2010 10,000 - 1,376 5,116 -

46 Upgrade of the Power Generation and Transmission Systems in Nouakchott

569/2011 30,000 - 10,859 15,322 -

47 Supply of Drinking Water to the Region of Aftout Elcharghi

570/2011 8,000 - 144 242 -

48 Water Supply of Eastern Cities and Villages from Dhar Basin

580/2012 20,000 - 1,891 1,975 -

49 Development of Power Generating Stations for Interior Cities

588/2012 3,000 - 329 1,558 -

50 Construction of a 30 MW Wind Farm in Nouakchott

590/2013 14,000 - 1,386 4,647 -

51 Néma - Mali Border Road (Section III) 593/2013 9,000 - 828 828 -

52 New Nouakchott International Airport 595/2013 9,000 - - - -

53 Drinking Water and Development of Oases in Rural Areas

601/2013 20,000 - 864 864 -

54Construction of a Solar Power Station in Nouakchott and the Modernization of the Electrical System

610/2014 30,000 - - - -

Subtotal 460,700 4,725 24,937 312,932 98,327(15) Sultanate of Oman

1 Gas Utilization* 29/76 6,000 1,517 - 4,483 4,4832 Murayrat-Sohar Gas* 59/80 3,000 - - 3,000 3,0003 Telecommunications* 120/83 3,000 - - 3,000 3,0004 Sohar-Buraimi Power Station* 129/84 3,000 27 - 2,973 2,9735 Fisheries Development* 162/85 3,000 1,706 - 1,294 1,2946 Natural Gas Utilization (Phase IV)* 187/86 3,000 1,231 - 1,769 1,769

7 Water Desalination and Power for the Capital Area*

196/87 6,000 1,377 - 4,623 4,623

8 Natural Gas Utilization (Stage 2 of Phase IV)* 257/91 7,000 203 - 6,797 6,7979 Mina Qaboos Port Development* 266/92 6,000 1,860 - 4,140 4,140

10 Ghubrah Power Generation and Water Desalination Station*

294/94 9,500 1,605 - 7,895 7,895


(KD 000)





Amountof Loan



Disbursements as at

31/12/2014

Repayments as at

31/12/2014

(15) Sultanate of Oman11 Industrial Estates in Rusayl and Nizwa* 302/94 6,000 1,249 - 4,751 4,751

12 Ghubrah Power Generation and Water Desalination Station (Phase V)*

310/95 9,000 821 - 8,179 8,179

13 Salalah Port Development* 354/97 15,000 - - 15,000 15,000

14 Meserrat Water Conveyance System* 388/99 11,000 397 - 10,603 10,603

15 Rimal Ash-Sharqiyah Water Distribution System* 401/2000 9,500 2,479 - 7,021 7,021

16 Khassab Port Development Project* 431/2002 4,500 695 - 3,805 3,805

17 Nizwa-Thamrit Road Rehabilitation (Phase II)*

441/2003 6,000 778 - 5,222 5,222

18 Expansion of Salalah Port (Phase II)* 466/2004 22,000 8,667 - 13,333 13,333

19 Al-Ashkhara - Al-Khuwaymah - Shanna Road* 479/2005 10,000 4,105 - 5,895 5,895

20 Muscat Southern Expressway* 487/2005 40,000 30,921 - 9,079 9,079

21 Dualization of Al-Amerat - Quriyat Road* 489/2006 20,000 17,175 - 2,825 2,825

22 Al Duqm Port** 501/2006 35,000 35,000 - - -

23 Reconstruction of Basic Infrastructure and Facilities Damaged by Cyclone Gonu*

519/2007 60,000 52,700 - 7,300 7,300

24 Dualization of Thumrait - Salalah Road* 507/2007 20,000 - - 20,000 1,080

25 Infrastructure Facilities for Sumail Industrial Estate

576/2011 14,000 - - - -

26 Housing Program 605/2013 40,000 - 5,000 5,000 - Subtotal 371,500 164,516 5,000 157,984 134,064

(16) Palestine1 Wadi Far’a Irrigation* 158/85 3,000 2,154 - 846 846

2 Widening and Strengthening of Salah Eldin Road*

340/97 5,000 - - 4,831 896

3 Development of Health Services* 341/97 3,000 1 - 2,999 3814 Rehabilitation of the Education Services* 342/97 3,000 - - 3,000 4575 The Rural Development Project* 376/98 3,000 300 - 2,700 - Subtotal 17,000 2,456 - 14,375 2,579

(17) Republic of Djibouti1 Third Pan-Arab Telecommunications* 67/81 1,000 - - 1,000 1,000

2 Djibouti Port Development* 89/82 1,500 - - 1,500 1,500


98/82 1,100 251 - 849 849

4 Expansion of Boulaos Power Station - Phase I* 116/83 3,000 491 - 2,509 2,509

5 Animal Wealth Development* 130/84 1,900 10 - 1,890 1,890

6Southwest Asia-Middle East-Western Europe (SEA-ME-WE) Submarine Cable (First Loan)*

159/85 1,900 2 - 1,898 1,898

7 Development Credit** 171/86 700 700 - - -


(KD 000)





Amountof Loan



Disbursements as at

31/12/2014

Repayments as at

31/12/2014

(17) Republic of Djibouti

8 Telecommunications Development* 197/87 400 113 - 287 287

9 SEA-ME-WE II Submarine Cable* 262/91 1,500 - - 1,500 1,178

10 Modernization of Boulaos Power Station - Phase II*

373/98 3,000 1 - 2,999 1,479

11 Modernization of the Port of Djibouti (Phase IV)**

390/99 3,000 3,000 - - -

12 Social Housing* 395/2000 5,000 - - 4,842 2,196

13 Development of the Education Sector 412/2001 4,000 - - 3,693 1,033

14 Modernization of Boulaos Power Station - Phase III*

436/2002 3,000 83 - 2,917 929

15 Social Housing (Phase II)* 456/2003 6,000 - - 6,000 1,015

16 Boulaos Power Generation Station Project - (Fourth Phase)*

471/2004 4,000 - - 3,979 686

17 Construction of Djibouti University 497/2006 5,000 - 334 1,992 260

18 Rehabilitation of Drinking Water Facilities in Djibouti City

532/2008 7,000 - 1,085 6,681 -

19 Upgrade of the Power Generation and Transmission Systems in the City of Djibouti

551/2010 9,000 - 37 37 -

20 Port of Tadjourah 577/2012 10,000 - 2,054 2,886 -

21 Rehabilitation of the Distribution Networks of Drinking Water in Djibouti City

598/2013 10,000 - 1,471 1,471 -

22 Social Housing - Phase II (Supplementary Loan)

607/2014 1,000 - - - -

Subtotal 83,000 4,652 4,981 48,929 18,707

Grand Total 8,398,728 779,391 257,847 5,614,393 2,857,408


(KD 000)




Loans Extended to Finance Inter-Arab Projects 1974 - 2014

(KD 000)

No. Project / Country LoanNo.

Amountof Loan

Cancelled Loans and

Balances

DisbursementsDuring2014

Disbursementsas at

31/12/2014

Repayments as at

31/12/2014

1 First Pan-ArabTelecommunications:Algeria* 10A/75 300 52 - 248 248

Morocco* 10B/75 3,000 802 - 2,198 2,198

2 Aden-Taiz Road:

Yemen* 22A/76 3,800 - - 3,800 3,800

Yemen* 22B/76 6,500 - - 6,500 6,500

3 Navigation Inspection Unit:

Algeria* 55/80 2,000 70 - 1,930 1,930

4 Second Pan-Arab Telecommunications:

Jordan* 58/80 5,000 4,433 - 567 567

Syria* 60/80 2,700 918 - 1,782 1,782

5 Third Pan-Arab Telecommunications:

Somalia* 66/81 1,700 - - 1,434 -

Djibouti* 67/81 1,000 - - 1,000 1,000

Yemen* 68/81 1,400 - - 1,400 1,400

Yemen* 69/81 1,300 - - 1,300 1,300

6 Fourth Pan-Arab Telecommunications:

Algeria* 71/81 4,500 153 - 4,347 4,347

Tunisia* 72/81 3,700 - - 3,700 3,700

7 Inter-Arab White Cement Industry (Jordan-Syria):

Jordan* 78/82 5,000 - - 5,000 5,000

8 Potable Water to Rural Areas:

Jordan* 82/82 700 - - 700 700

Tunisia* 83/82 600 88 - 512 512

Sudan* 84/82 1,800 73 - 1,727 1,727

Morocco* 85/82 1,300 1,135 - 165 165

Mauritania* 86/82 400 12 - 388 388

Yemen* 87/82 1,500 - - 1,500 1,500

Yemen* 88/82 700 80 - 620 620

9 Tartous-Latakia Motorway:

Syria* 93/82 6,000 - - 6,000 6,000

10 Fifth Pan-Arab Telecommunications Earth Stations:

Syria* 95/82 1,000 - - 1,000 1,000

Jordan* 96/82 1,000 - - 1,000 1,000

Yemen* 97/82 1,200 - - 1,200 1,200

ANNEx 6PAGE 1 OF 3




(KD 000)


Amountof Loan

Cancelled Loans and

Balances


Disbursementsas at

31/12/2014

Repayments as at

31/12/2014

Djibouti* 98/82 1,100 251 - 849 849Somalia 99/82 1,200 - - - - Sudan* 100/82 1,300 223 - 1,077 1,077Tunisia* 101/82 1,000 3 - 997 997Algeria* 102/82 1,000 - - 1,000 1,000Morocco* 103/82 1,000 - - 1,000 1,000Mauritania* 104/82 1,200 77 - 1,123 1,123Syria* 172/86 1,000 - - 1,000 1,000

11 Sixth Pan-Arab Telecommunications, SubmarineGulf Cable (Bahrain-Qatar-UAE):

Bahrain* 113/83 3,000 - - 3,000 3,000

12 Zarqa-Almafraq - Syrian Border Road:Jordan* 118/83 4,000 - - 4,000 4,000

13 Damascus-Sanamein-Jordan Border Road:Syria* 128/83 9,000 - - 9,000 9,000

14 Geological and Water Mapping of Yemen:Yemen* 132/84 1,200 151 - 1,049 1,049

Yemen* 133/84 1,200 211 - 989 989

15 Fifth Pan-Arab Telecommunications Arabsat Earth Station:

Iraq 141/84 5,000 - - 4,373 -

16 Seventh Pan-Arab Telecommunications SubmarineGulf Cable (Bahrain-Kuwait):Bahrain** 142/84 3,000 3,000 - - -

17 Mitigation of Earthquake Risks:Algeria* 117/83 4,700 3,704 - 996 996

Jordan* 148/84 450 182 - 268 268

Tunisia* 149/84 575 48 - 527 527

Iraq* 150/84 525 - - 503 63

Syria* 151/84 575 11 - 564 564

Yemen* 152/84 600 1 - 599 599

Morocco* 153/84 600 6 - 594 594

Algeria (Second Loan) 332/96 3,500 1,887 - 1,613 1,613

18 Pesticides Arab Joint Venture (Syria-Jordan):Syria** 154/84 1,900 1,900 - - -

19 Ruwaishid Pilot Scheme in Hammad Basin (Inter-Arab):Jordan* 184/86 1,500 4 - 1,496 1,496

ANNEx 6PAGE 2 OF 3




Amountof Loan

Cancelled Loans and

Balances


Disbursementsas at

31/12/2014

Repayments as at

31/12/2014

20 Tenf Pilot Scheme in Hammad Basin (Inter-Arab):Syria* 185/86 1,700 - - 1,700 1,700

21 Hama-Saraqeb Road and Ain Eissa-Qintari Road:Syria* 214/88 8,000 31 - 7,969 7,741

22 Yemen Power Link:Yemen* 217/88 8,600 24 - 8,576 7,190

Yemen* 218/88 10,000 62 - 9,938 8,874

23 Jordan-Egypt Power Link:Jordan* 233/89 10,500 - - 10,500 10,500

Egypt* 234/89 34,100 3,339 - 30,761 29,349

24 Tunisia-Libya Power Link:Tunisia* 243/90 17,800 - - 17,800 10,800

Libya* 244/90 2,200 784 - 1,416 787

25 Strengthening Local Transmission Network withinMorocco-Spain Electric Power Link:Morocco* 299/94 18,500 4,628 - 13,872 12,122Morocco (Supplementary Loan)* 337/96 7,000 3,428 - 3,572 2,682

26 Interconnection of Jordan-Syria Electric Power Grids:Jordan* 311/95 19,500 - - 19,500 14,875

Syria 312/95 30,000 - - 28,223 17,290

27 Interconnection of Syria and Turkey Electric Power Grids:Syria* 314/95 26,000 2,936 - 23,064 10,714

28 Interconnection of the Libyan and Egyptian Power Grids:Libya* 326/96 12,000 2,590 - 9,410 6,650

29 Interconnection of the Lebanese and Syrian Electric Grids at 400 kV:Lebanon 400/2000 8,000 - 70 4,142 3,430

30 Natural Gas Pipeline (Al-Arish-Aqaba):Egypt* 427/2002 17,000 4,224 - 12,776 12,776

31 Arab Gas Pipeline Project - Third stage (Aleppo - Kalas Section):Syria 529/2008 10,000 - - 1,881 -

32 Electrical Interconnection Between the Arab Republic of Egypt and the Kingdom of Saudi Arabia: Egypt 603/2013 45,000 - - - -

Total 394,125 41,520 70 291,736 237,869


(KD 000)

ANNEx 6PAGE 3 OF 3



Beneficiary No. of

GrantsAmount

Approved Canc

elled

Gr

ants

and

Balan

ces Net

Amount Approved

Percent of Total

(%)

Total Disbursements Balance of

GrantsDuring 2014

Until 31/12/2014

A: National Grants

1 Hashemite Kingdom of Jordan 45 11,394 64 11,330 6.0 370 6,569 4,761

2 Republic of Tunisia 13 5,020 133 4,887 2.6 56 3,990 897

3 Algerian Democratic and People’s Republic 10 1,765 551 1,214 0.6 - 1,084 130

4 Republic of Sudan 25 13,702 690 13,013 6.9 1,053 9,498 3,515

5 Republic of Iraq 5 820 163 657 0.3 - 657 -

6 Kingdom of Saudi Arabia 9 1,520 58 1,462 0.8 - 852 610

7 Syrian Arab Republic 16 3,820 907 2,913 1.5 - 2,068 845

8 State of Libya 3 625 300 325 0.2 - 45 280

9 Arab Republic of Egypt 47 16,285 426 15,859 8.4 2,399 13,180 2,779

10 Republic of Yemen 47 12,106 537 11,569 6.1 1,354 9,043 2,526

11 State of Kuwait 23 3,216 - 3,216 1.7 23 3,137 79

12 Republic of Lebanon 42 19,926 2,549 17,377 9.2 678 10,109 7,269

13 Kingdom of Morocco 25 5,510 254 5,256 2.8 - 4,212 1,044

14 United Arab Emirates 7 194 9 185 0.1 - 185 -

15 Kingdom of Bahrain 12 1,960 265 1,695 0.9 - 1,295 400

16 State of Qatar 1 50 14 36 0.02 - 36 -

17 Somali Democratic Republic 4 1,220 86 1,134 0.1 - 234 900

18 Islamic Republic of Mauritania 30 6,435 770 5,665 3.0 28 5,147 518

19 Sultanate of Oman 14 4,725 19 4,706 2.5 24 4,629 77

20 Palestine 173 28,545 1,068 27,477 14.6 15 27,394 83

21 Republic of Djibouti 7 1,150 30 1,120 0.6 - 1,108 12

22 Union of the Comoros 2 3,100 - 3,100 1.6 - - 3,100

Subtotal 560 143,088 8,892 134,197 70.9 6,000 104,474 29,723

B: Inter-Arab Grants 502 60,815 5,702 55,113 29.1 1,967 50,537 4,576

Grand Total 1062 203,903 14,594 189,310 100.0 7,967 155,010 34,299

C: Urgent Program to Support Palestine* 127,278 - 127,278 10,220 102,938 24,340

Grants Committed and Disbursed1974 - 2014

(KD 000)

ANNEx 7

* Support decided by the Arab Fund’s Board of Governors to the Palestinan people, over the period 2001 - 2014.


Contributors Total Amount(KD Million)

Percentage(%)

1 - (A) National and Regional Development Institutions

Arab Fund for Economic and Social Development 3,734.0 31.2

Kuwait Fund for Arab Economic Development 1,196.4 10.0

Abu Dhabi Fund for Development 295.5 2.5

Saudi Fund for Development 542.7 4.5

Islamic Development Bank 893.2 7.5

OPEC Fund for International Development 108.5 0.9

Iraqi Fund for External Development 5.0 *

Libyan Foreign Bank 3.0 *

Subtotal 6,778.3 56.6

(B) Other Arab Sources 749.5 6.3

2 - International Financial Institutions

World Bank 759.5 6.3

International Fund for Agricultural Development (IFAD) 54.3 0.5

African Development Bank 664.3 5.5

Subtotal 1,478.1 12.3

3 - Foreign Governments and their Development Institutions 2.962.4 24.8

Grand Total 11,968.3 100.0

* Less than 0.1%.

ANNEx 8

Co-financing Activities of the Arab Fund1974 - 2014


Contents

Member States, Governors and Alternate Governors ......................................................................3

Board of Directors ..........................................................................................................................5

Basic Financial Data on the Arab Fund as at 31/12/2014 .................................................................7

Overview of Arab Fund Activities .....................................................................................................9

l First: The Lending Program ............................................................................................... 13

l Second: Grants ............................................................................................................ 19

l Third: Other Activities ...................................................................................................... 27

l Fourth: Financial Statements for the Financial Year Ended 31 December 2014 ..................... 34

ANNExES .................................................................................................................................... 43

l Annex 1

Project Sheets for Loans Extended During the Year 2014 ..................................................... 45 l Annex 2

Capital, Resources and Status of Loans and Grants, 1972 - 2014 ......................................... 68 l Annex 3

Summary of Loans Extended to Member States, 1974 - 2014 ............................................... 72 l Annex 4

Sectoral Distribution of Loans Among Beneficiary Member States, 1974 - 2014 ...................... 73 l Annex 5

Loans Extended to Beneficiary Member States, 1974 - 2014 ................................................ 75 l Annex 6

Loans Extended to Finance Inter-Arab Projects, 1974 - 2014 ................................................ 96 l Annex 7

Grants Committed and Disbursed, 1974 - 2014 ................................................................... 99 l Annex 8

Co-financing Activities of the Arab Fund, 1974 - 2014.......................................................... 100

Page No.